Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal is on a four-day visit to South Korea, pitching India's shipbuilding opportunities to Korean industry and seeking partnerships in shipbuilding, shipping, ports, and maritime logistics as India targets becoming one of the world's top five shipbuilding nations by 2047 .
Speaking in Busan, which he described as the hub of Korea's maritime industry, Sonowal said: "We are looking for partnership with Korea in shipbuilding, shipping, ports and maritime logistics." He urged Indian professionals working in Korean shipbuilding to see the VOYAGES framework—the India-ROK Comprehensive Framework for Partnership in Shipbuilding, Shipping and Maritime Logistics signed in April 2026—as a platform for professional growth and India's maritime future .
The Korea Marine Equipment Association (KOMEA) announced it will open its first India office in Mumbai on October 30. KOMEA, founded in 1980, represents 304 equipment makers, design firms, shipbuilders, and repairers, with members including HD Hyundai, Hanwha Ocean, and Samsung Heavy Industries. KOMEA Chairman Ho-il Kang said members have begun preparing to enter the Indian market within the next two years .
Sonowal emphasized the commercial opportunity for Korean suppliers: "Every ship built in India needs engines, propulsion, deck machinery, and electrical and navigation systems. Much of that high-value equipment is imported today—which is the opportunity for Korean suppliers." KOMEA members including SB Sunbo, Daeyang, KASEMEC, and JO Engineering discussed plans for potential investment in India's maritime sector .
India approved a shipbuilding package worth approximately $7.8 billion in September 2025. Since scheme approval, shipbuilding output rose 40% in 2025 year-on-year and further grew by more than 80% in 2026. The pipeline of vessels receiving direct government assistance covers more than 120 ships worth over $1.27 billion, with export orders making up more than 80% of the value. Government entity demand has been aggregated to provide order book visibility of more than 400 vessels worth about $23 billion over the next 10 years .
At the World Maritime Day ministerial roundtable in Busan, Sonowal shared the stage with IMO Secretary-General Arsenio Dominguez and ministers from South Korea, Norway, and Cyprus. He called for international standards that remain ambitious and universal while recognizing differences in national circumstances, development, technology, and access to finance, citing the principle of common but differentiated responsibilities. He proposed practical partnership mechanisms including joint working groups pairing countries that have implemented conventions with those still building capacity .
India has undertaken domestic regulatory groundwork: five maritime laws enacted in 2025 took effect in March 2026, India's Maritime Single Window covers 69 ports and terminals, and the Alang-Sosiya yard has 115 ship recycling facilities compliant with the Hong Kong Convention. KOMEA's Mumbai office opening was welcomed by both governments under the VOYAGES framework, which also includes cooperation on skill training through the Korea International Cooperation Agency (KOICA) and support for Korean shipowners to flag vessels in India through GIFT IFSCA and E-Samudra .
The visit underscores India's push toward Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047, with shipbuilding positioned as a strategic industry for job creation, technology acquisition, and export growth. The KOMEA office opening is expected to serve as a concrete institutional channel for Korean marine equipment manufacturers to establish local production and technology partnerships with Indian yards, though the scale and pace of actual investment flows will depend on project-level negotiations and market conditions .