India and South Korea have agreed to strengthen cooperation across shipbuilding, shipping and maritime logistics under a comprehensive partnership framework following high-level talks between Prime Minister Narendra Modi and President Lee Jae Myung on 20 April, according to the Prime Minister’s Office (PMO).
The two sides outlined a shared vision ‘VOYAGES’ (Vision for Operation of Yard Assisted Growth with Efficiency and Scale), aimed at leveraging complementary strengths in maritime industries to generate long-term economic value and industrial growth.
The discussions focused on expanding collaboration in shipbuilding clusters, port development and maritime logistics, with India highlighting opportunities for large-scale greenfield shipbuilding facilities supported by incentives under the Shipbuilding Development Scheme and state-level policies.
Korea has been invited to participate as a technical and strategic partner in these clusters.
A key development includes a non-binding memorandum of understanding involving HD Korea Shipbuilding & Offshore Engineering (HD KSOE), a cluster developer, and the Maritime Development Fund (MDF) for the development of a greenfield shipyard in southern India.
Both sides expressed optimism for early implementation of this project.
India also highlighted its projected demand of over 400 vessels, with an estimated value of ₹2.2 lakh crore, creating a significant opportunity for bilateral industrial cooperation.
The two countries agreed to align this demand with joint manufacturing and supply chain partnerships to strengthen a resilient shipbuilding ecosystem.
In addition to greenfield projects, cooperation will extend to upgrading existing shipyards, including development of block fabrication facilities to support construction of large and specialised vessels.
The partnership is expected to stimulate demand for components and ancillary industries, encouraging Korean manufacturers to expand local production in India.
The two sides also welcomed institutional collaborations, including the opening of a Korea Marine Equipment Association (KOMEA) branch in Mumbai and proposed cooperation with the Korea Marine Equipment Research Institute (KOMERI).
On the ports side, an agreement between India’s Ministry of Ports, Shipping and Waterways and Korea’s Ministry of Oceans and Fisheries will facilitate collaboration in infrastructure development and knowledge sharing.
This aligns with India’s estimated $13.3 billion port PPP pipeline over the next five years, including projects such as Vadhvan port in Maharashtra and major terminals in Odisha and Gujarat.
The partnership also covers skill development, with a training initiative to be implemented by the Korea International Cooperation Agency (KOICA) in collaboration with India to support workforce capacity in shipbuilding.
India’s seafarer pool, estimated at over 320,000 personnel, was highlighted as a key strength for global maritime operations.
Further, the two countries signed agreements for joint development of next-generation maritime and port cranes, as well as expanded collaboration in maritime education, research and innovation through partnerships between leading institutions in both countries.
The leaders expressed confidence that the India-South Korea partnership will deliver benefits for the two countries and the world at large.
Read also : Pune airport resumes flight operations after overnight runway repair following IAF aircraft incident
