Samsung Heavy Industries (SHI) has announced its foray into India’s shipbuilding industry through a partnership with Swan Defence and Heavy Industries (SDHI) in Gujarat, marking a significant step in New Delhi’s bid to promote local shipbuilding.

According to media reports, the tie-up, disclosed on Monday, will see the two companies collaborate on ship design, engineering, procurement and management across a wide range of ocean projects. SDHI, India’s largest shipyard, holds nearly 30 per cent of the nation’s shipbuilding capacity and operates the country’s biggest dry dock, capable of constructing very large crude carriers and advanced maritime facilities.

Samsung is expected to gradually expand its presence, using the Gujarat yard as a base to tap into India’s fast-growing maritime logistics sector. According to industry estimates, the country’s shipping market is set to expand at a compound annual growth rate of 6.4 per cent between 2025 and 2030.

“This collaboration blends technological expertise with strong market presence, making it a model partnership that delivers mutual benefits,” said Namgung Geum-sung, vice president of Samsung Heavy Industries.

The partnership comes at a time when India has set an ambitious target to emerge among the world’s top five shipbuilding nations by 2047. The government aims to build at least 1,000 commercial vessels within the next decade, supported by financial incentives and policy reforms. In the Union Budget 2025, New Delhi proposed a USD 3 billion Maritime Development Fund to back long-term financing for shipbuilding, ship repair and allied infrastructure.

The collaboration follows high-level engagements between India and South Korea in recent months. In December, officials from the Ministry of Ports, Shipping and Waterways toured Korean shipyards, including SHI’s Geoje facility, to explore opportunities for joint projects and technology transfer.

For Samsung, the move signals a deeper commitment to India’s maritime growth story. For India, it reinforces a strategy of leveraging global expertise to strengthen domestic capacity in a sector seen as vital for both trade and strategic needs.

Source: BusinessWorld

#theshippingtribune #latestnews #shippingnews #dailynews #Maritimenews #shippingindustry #news #media #newsupdate #maritime #shippingnewsworldwide