India Set to Be Among Top Five Shipbuilding Nations by 2047

India, which is currently with less than 1 percent market share in the world ship building sector is targeting to be one of the five leading world ship building countries by 2047. Government through its programs such as the Maritime India Vision is striving to make India a major shipbuilding and ship repair center. The maritime industry of the country with a GDP contribution of 4% and only reaching 1% of the world tonnage focuses on increasing the contribution to 12% GDP by the year 2047. India aims at enhancing its global competitiveness, employment creation and the emergence as a global maritime superpower with shipbuilding, repair and green shipping activities.

Key Points in Detail

Vision and Goals for 2030 and 2047

• India intends to be top 10 maritime countries by 2030, top 5 by 2047.

• The blue economy of India revolves around shipbuilding and repair jump-stating employment, global competitiveness, and sustainability.

• By 2047, the government targets to grow the maritime industry to 12 percent of GDP as compared to the present 4 percent.

Current State and Ambition

• India now has 1 percent of tonnage world shipbuilding capacity and position 16 in the world.

• Even the small share, already 12 percent of the world workforce is represented by Indian sea-workers, and its increase to the world percentage of 25 is projected.

Government Programs to increase Shipbuilding.

• Shipbuilding Finance Assistance Scheme: Give subsidies of up to 30% on non-conventional construction.

• Maritime Development Fund: It is a fund amounting to $3 billion, out of which 45 percent is to be used on building ships and repairing them and 20 percent on building Indian tonnages.

• National Shipbuilding Mission: Devotes itself to the development of shipbuilding clusters and improvement of infrastructure.

• Shipbreaking Credit Note Scheme: Provides incentives to shipbreaking and recycling that are sustainable.

Infrastructure Investments.

• India is also making massive investments in port infrastructure and coastal shipping, which will also enhance shipbuilding.

• Sustainability in the world of shipbuilding and ship repair will be fueled by green shipping, and updated infrastructure.

Maritime India Vision

• Within Maritime India Vision, India is establishing itself as a world maritime superpower by creating shipbuilding manufacturing capacities, training seafarers and creating infrastructures to facilitate maritime commerce and shipbuilding actions.

• This vision is compatible with the programs of Make in India and Atmanirbhar Bharat, which are aimed at local manufacturing and shipbuilding innovations.

Conclusion

The aim by India to emerge among the top five shipbuilding countries in the year 2047 indicates the interest of the government to enhance its maritime economy. India intends to increase its presence in the shipbuilding sector through specific investments, policy changes and global competitiveness policy that will bring them vast economic development and jobs. In the case of UPSC, the vision is the obvious illustration of how strategic planning, partnership between a state and a business, as well as investment in infrastructure can lead to the long-term change in industrial growth.