India bets on Korean shipbuilding ties for top-five push by 2047

What happened: India is pursuing South Korean investment and technology to build a top-five shipbuilding industry by 2047, following talks between Prime Minister Narendra Modi and President Lee Jae Why it matters: HD Korea Shipbuilding & Offshore Engineering signed an April 20 agreement with National Shipbuilding & Heavy Industries Park Tamil Nadu and Sagarmala Finance, with a joint venture structure and detailed project report targeted within six months. India also wants Samsung Heavy Industries and Hanwha Ocean to invest, while the Korea Marine Equipment Association plans a Mumbai branch.

India is pursuing South Korean investment and technology to build a top-five shipbuilding industry by 2047, following talks between Prime Minister Narendra Modi and President Lee Jae

HD Korea Shipbuilding & Offshore Engineering signed an April 20 agreement with National Shipbuilding & Heavy Industries Park Tamil Nadu and Sagarmala Finance, with a joint venture structure and detailed project report targeted within six months. India also wants Samsung Heavy Industries and Hanwha Ocean to invest, while the Korea Marine Equipment Association plans a Mumbai branch.