India and Korea deepen shipbuilding ties with new shipyard framework

Korean firms enter development pipeline, spurring India’s shipyard ecosystem growth.

India and the Republic of Korea have agreed on a comprehensive framework for cooperation in shipbuilding, shipping, and maritime logistics, establishing structured collaboration in shipyard development, port operations, and maritime infrastructure in India. 

In a press release, India's Ministry of External Affairs said the agreement sets out joint work on shipyard development projects, supporting infrastructure, and maritime logistics systems as part of broader industrial cooperation under India’s Maritime Amrit Kaal Vision 2047.

Both sides have supported business-to-business collaboration between Indian and Korean firms in shipyard development and related infrastructure, with a focus on construction of shipyards in India and development of ancillary ecosystems linked to maritime manufacturing.

Korean maritime industry participation will expand through the establishment of a Korea Marine Equipment Association office in Mumbai, which will support cooperation in marine equipment supply chains and related industrial activity in India’s shipbuilding sector.

The agreement also links shipbuilding cooperation with upstream materials supply, with both countries supporting industrial collaboration in steel.

This includes a six-million-tonne integrated steel plant in Odisha involving POSCO and JSW, which will supply inputs for ship construction.

The framework sits within broader industrial cooperation covering automotive, chemicals, semiconductors, telecommunications equipment, display technology, secondary batteries, critical minerals, and maritime logistics.

Both governments have supported ongoing discussions between companies on shipyard development, port operations, and shipping services in India, as part of efforts to expand maritime industrial capacity and supply chains.