India widens its Maritime Partnerships in Busan, from Shipbuilding Supply Chains to Ship Recycling

Union Minister of Ports, Shipping and Waterways (MoPSW), Sarbananda Sonowal, held a series of meetings in Busan, South Korea, with South Korean maritime institutions, shipbuilders and shipping companies, and with Cyprus’ Shipping Deputy Minister, as India works to build the supply chain, finance, technology and markets behind its shipbuilding ambitions.

The talks covered shipbuilding investment, marine equipment manufacturing, maritime financing, port development, shipping, green technology and sustainable ship recycling. The government aims to make India a globally competitive shipbuilding, shipping and maritime services hub by 2047.

“India’s shipbuilding landscape is on a fast growth trajectory backed by vision and policy initiatives of the Indian government led by Prime Minister Narendra Modi,” Sarbananda Sonowal said.

In a bilateral meeting, Cyprus’ Shipping Deputy Minister, Marina Hadjimanolis, reaffirmed her country’s support for India’s effort to win European Union (EU) recognition for eligible Indian ship-recycling facilities.

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