India Targets Global Maritime Hub Status By 2047 With South Korean & Cypriot Agreements

India’s Union Minister held talks on shipbuilding, green technology, supply chains, and shipping in South Korea, as Cyprus backed India’s EU recognition for ship recycling.

India’s Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal, held meetings in Busan with maritime institutions, shipbuilders and shipping companies of South Korea, ANI reports. The meeting took place on October 27, along with a bilateral session with Cyprus’ shipping deputy minister, Marina Hadjimanolis, according to India’s shipping ministry, as reported by ANI.

According to the ministry, the meetings covered shipbuilding investment, marine equipment manufacturing, green technology, shipping, ship recycling, financing, and port development. The ministry said that the government aims to transform India into a hub of globally competitive shipbuilding, shipping, and maritime services by 2047.

India’s marine-related goals include building the supply chain, finance, technology, and markets. Sonowal said that India’s shipbuilding domain is growing rapidly under the vision and policy initiatives of India’s Prime Minister. Press Information Bureau reports four key developments from the day, namely recycling, green shipping, finance, and fleet and markets.

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