<p data-path-to-node="4" id="p-rc_d459e540e1bbb7f3-46" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><b data-path-to-node="4" data-index-in-node="0" class="" style="line-height: 1.15 !important;">BUSAN</b><span class="citation-458 citation-end-458" style="line-height: 1.15 !important;"> — In an aggressive push to transform its domestic maritime manufacturing footprint, the Government of India has launched a dedicated bilateral outreach campaign targeting South Korea’s premier shipbuilders.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="2" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><span style="line-height: 1.15 !important;"> </span><span class="citation-457 citation-end-457" style="line-height: 1.15 !important;">The high-level initiative seeks to leverage Korean engineering dominance, joint-venture equity, and advanced yard-management expertise to propel India into the global top-five shipbuilding nations by 2047.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="3" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><p data-path-to-node="5" id="p-rc_d459e540e1bbb7f3-47" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-456" style="line-height: 1.15 !important;">The strategic outreach forms a cornerstone of India’s long-term </span><i data-path-to-node="5" data-index-in-node="64" class="" style="line-height: 1.15 !important;">Maritime Amrit Kaal Vision 2047</i><span class="citation-456" style="line-height: 1.15 !important;"> and </span><i data-path-to-node="5" data-index-in-node="100" class="" style="line-height: 1.15 !important;">Maritime India Vision 2030</i><span class="citation-456 citation-end-456" style="line-height: 1.15 !important;"> agendas.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="4" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><span style="line-height: 1.15 !important;"> </span><span class="citation-455 citation-end-455" style="line-height: 1.15 !important;">These roadmaps target an expansion of the maritime sector’s contribution to India’s gross domestic product from 4% to 12%, while systematically lifting the country’s share of global commercial shipbuilding—which currently stands at less than 1%—to rival top-tier international yards.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="5" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><h4 data-path-to-node="6" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b>Deepening Industrial Ties with Korean Conglomerates</b></h4><p data-path-to-node="7" id="p-rc_d459e540e1bbb7f3-48" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-454 citation-end-454" style="line-height: 1.15 !important;">Leading a delegation to the maritime hub of Busan, India's Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal, opened extensive technical and investment consultations with executives and Indian engineering talent embedded across South Korea’s industrial powerhouses, including:<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="6" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><ul data-path-to-node="8" style="padding-inline-start: 32px; font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><li style="line-height: 1.15 !important;"><p data-path-to-node="8,0,0" id="p-rc_d459e540e1bbb7f3-49" style="line-height: 1.15 !important;"><b data-path-to-node="8,0,0" data-index-in-node="0" class="" style="line-height: 1.15 !important;"><span class="citation-453 citation-end-453" style="line-height: 1.15 !important;">HD Hyundai / HD Korea Shipbuilding &amp; Offshore Engineering (HD KSOE)<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="7" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span></b><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="8,1,0" id="p-rc_d459e540e1bbb7f3-50" style="line-height: 1.15 !important;"><b data-path-to-node="8,1,0" data-index-in-node="0" class="" style="line-height: 1.15 !important;"><span class="citation-452 citation-end-452" style="line-height: 1.15 !important;">Samsung Heavy Industries<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="8" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span></b><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="8,2,0" id="p-rc_d459e540e1bbb7f3-51" style="line-height: 1.15 !important;"><b data-path-to-node="8,2,0" data-index-in-node="0" class="" style="line-height: 1.15 !important;"><span class="citation-451 citation-end-451" style="line-height: 1.15 !important;">Hanwha Ocean<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="9" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span></b><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li></ul><p data-path-to-node="9" id="p-rc_d459e540e1bbb7f3-52" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-450" style="line-height: 1.15 !important;">The diplomatic and commercial offensive operationalizes the </span><b data-path-to-node="9" data-index-in-node="60" class="" style="line-height: 1.15 !important;">VOYAGES</b><span class="citation-450 citation-end-450" style="line-height: 1.15 !important;"> (Shared Vision for Operation of Yard Assisted Growth with Efficiency and Scale) bilateral framework.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="10" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><span style="line-height: 1.15 !important;"> </span><span class="citation-449 citation-end-449" style="line-height: 1.15 !important;">Under this umbrella, India is pitching its vast 7,500-kilometer coastline, expanding industrial corridors, and lower labor-cost structures to Korean partners seeking alternative global capacity as Asian order books for dry-bulk, gas carriers, and dual-fuel vessels remain full.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="11" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><h4 data-path-to-node="10" style="font-family: &quot;Google Sans&quot;, sans-serif !important; line-height: 1.15 !important;"><b>Greenfield Mega-Yards and Policy Backing</b></h4><p data-path-to-node="11" id="p-rc_d459e540e1bbb7f3-53" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-448 citation-end-448" style="line-height: 1.15 !important;">Central to the discussions is India's push to establish integrated greenfield mega-shipbuilding and repair clusters along its eastern and western sea boards.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="12" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p><p data-path-to-node="12" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span style="line-height: 1.15 !important;">New Delhi is actively marketing key structural and financial incentives approved under its Shipbuilding Development Scheme and enhanced financial assistance programs:</span></p><ul data-path-to-node="13" style="padding-inline-start: 32px; font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><li style="line-height: 1.15 !important;"><p data-path-to-node="13,0,0" id="p-rc_d459e540e1bbb7f3-54" style="line-height: 1.15 !important;"><b data-path-to-node="13,0,0" data-index-in-node="0" style="line-height: 1.15 !important;">Direct Capital Subsidies &amp; Cluster Facilitation:</b><span style="line-height: 1.15 !important;"> </span><span class="citation-447 citation-end-447" style="line-height: 1.15 !important;">Deploying capital via the Maritime Development Fund (MDF) to support joint greenfield developments—including preliminary memoranda of understanding explored with Korean shipbuilders for yard and block-fabrication setups in southern India.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="13" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="13,1,0" id="p-rc_d459e540e1bbb7f3-55" style="line-height: 1.15 !important;"><b data-path-to-node="13,1,0" data-index-in-node="0" style="line-height: 1.15 !important;">Guaranteed Domestic Procurement:</b><span style="line-height: 1.15 !important;"> </span><span class="citation-446 citation-end-446" style="line-height: 1.15 !important;">Backing the venture with India's long-term procurement pipeline, which includes a fleet acquisition program of over 400 commercial and specialized vessels valued at approximately ₹2.2 lakh crore (around $25 billion) across public and private logistics agencies.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="14" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li><li style="line-height: 1.15 !important;"><p data-path-to-node="13,2,0" id="p-rc_d459e540e1bbb7f3-56" style="line-height: 1.15 !important;"><b data-path-to-node="13,2,0" data-index-in-node="0" style="line-height: 1.15 !important;">Knowledge and Skills Transfer:</b><span style="line-height: 1.15 !important;"> </span><span class="citation-445 citation-end-445" style="line-height: 1.15 !important;">Developing institutional linkages via the proposed India Ship Technology Centre and capacity-building collaborations coordinated through the Korea International Cooperation Agency (KOICA) to train the next wave of naval architects, project managers, and marine designers.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="15" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"> <!----><source-inline-chip _ngcontent-ng-c117407407="" _nghost-ng-c230154732="" class="ng-star-inserted" style="line-height: 1.15 !important;"><!----><!----><!----><!----><!----></source-inline-chip><!----><!----><!----></sources-carousel-inline></p></li></ul><p data-path-to-node="14" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span style="line-height: 1.15 !important;">Sonowal stressed that Korean industrial anchors will find significant policy tailwinds in India,</span><span style="line-height: 1.15 !important;"> ranging from single-window regulatory clearances at dedicated maritime economic zones to long-term tax holidays for specialized dry-dock operators.</span></p><p data-path-to-node="15" id="p-rc_d459e540e1bbb7f3-57" style="font-family: &quot;Google Sans Text&quot;, sans-serif !important; line-height: 1.15 !important;"><span class="citation-444 citation-end-444" style="line-height: 1.15 !important;">By coupling South Korea's high-tech manufacturing, automation, and green vessel engineering with India’s domestic steel manufacturing, labor scale, and swelling commercial cargo demand, the alliance aims to overcome long-standing yard infrastructure gaps and establish India as a core manufacturing pillar in global maritime commerce.<source-footnote ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c2563806301="" style="line-height: 1.15 !important;"><sup _ngcontent-ng-c2563806301="" class="superscript" data-turn-source-index="16" style="line-height: 1.15 !important; font-size: 16px !important; background-color: transparent !important;"><!----></sup></source-footnote></span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c117407407="" style="line-height: 1.15 !important;"></sources-carousel-inline></p>