Bhavnagar: India’s shipbuilding industry received a major boost with the signing of 27 Memoranda of Understanding (MoUs) valued at over ₹66,000 crore during the “Samudra Se Samriddhi – Transforming India’s Maritime Sector” event.
The MoU exchange ceremony, held in the presence of Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal, marked a new era in India’s maritime growth.
Investments to Generate 1.5 Lakh Jobs
According to Sonowal, the MoUs will strengthen Atmanirbhar shipbuilding by creating more than 1.5 lakh direct and indirect jobs across ports, shipping, and manufacturing. The agreements highlight India’s commitment to becoming a global maritime hub by 2047, with projects ranging from port-led industrialisation to sustainable shipbuilding clusters.
Also Read: Coastal Research Vessels: Titagarh Rail Systems Secures INR 467.25 Crore GRSE Contract
Bahuda Port Project and Water Metro Among Major Initiatives
One of the most significant shipbuilding-linked MoUs involves the development of the Bahuda Port in Odisha, a ₹21,500 crore project with a 150 MTPA capacity. This initiative will serve as an anchor for port-led growth, logistics parks, and manufacturing clusters in eastern India, creating 25,000 jobs.
In addition, the Inland Waterways Authority of India and the Government of Bihar signed a ₹908 crore MoU for a Water Metro in Patna, introducing electric ferries and modern terminals to transform urban river transport.
Shipbuilding Clusters and Global Partnerships Announced
Shipbuilding received further momentum through MoUs for state-backed shipbuilding clusters in Andhra Pradesh, Odisha, Gujarat, Maharashtra, and Tamil Nadu.
These clusters will include advanced shipyards, R&D facilities, MSME linkages, and logistics corridors, with the aim of positioning India among the top five shipbuilding nations globally by 2047.
Cochin Shipyard Limited signed a strategic agreement with HD Korea Shipbuilding & Offshore Engineering to build large commercial vessels, including Suezmax tankers and container ships. CSL also announced an ₹80-acre Block Fabrication Facility in Kochi, worth ₹3,700 crore, to enhance steel fabrication and job creation.
Mazagon Dock Shipbuilders Limited entered an MoU with Guidance Tamil Nadu for a greenfield shipyard in Thoothukudi, while CSL signed a ₹15,000 crore deal with SIPCOT and Guidance Tamil Nadu to establish a major shipbuilding complex.
Domestic Manufacturing and Financing
To strengthen local supply chains, the Shipyard Association of India signed an MoU with the Indian Steel Association to prioritise Indian steel in projects. The Sagarmala Finance Corporation Limited also entered into agreements with institutions such as NaBFID and IIFCL to provide sustainable financing for green shipbuilding and fleet modernisation.
Gujarat and West Bengal Expand Presence
The Gujarat Maritime Board signed MoUs worth ₹13,600 crore with private partners to expand shipbuilding, ship repair, and offshore infrastructure across multiple locations, reinforcing Gujarat as a maritime hub.
Also Read: Indian Navy Commissions DSC A20, Built by Titagarh Rail Systems Under Make in India
Garden Reach Shipbuilders & Engineers also signed agreements to expand shipbuilding and repair operations in Gujarat and West Bengal.
Heritage and Tourism Projects
In a heritage-linked initiative, the Directorate General of Lighthouses and Lightships signed an MoU for the world’s tallest lighthouse museum at Lothal, Gujarat, with an investment of ₹266 crore, adding a tourism dimension to India’s maritime development.
The MoUs collectively highlight India’s integrated maritime vision. With commitments exceeding ₹66,000 crore, these projects will enhance India’s global maritime standing, and support the national goal of Atmanirbhar Bharat by 2047.
