"India to Establish Two Mega Shipbuilding Parks by 2030"

India plans to establish two Mega shipbuilding parks by 2030 as part of its strategy to capture a share of the $100 billion global shipbuilding market, according to Sarbananda Sonowal, the Minister for Ports, Shipping, and Waterways.

The immediate goal is to develop four Mega shipbuilding parks, with two located on the East coast and two on the West coast of India. States such as Gujarat, Maharashtra, Odisha, and Andhra Pradesh have shown promising support for these projects, with their commitments reaffirmed at the 20th Maritime State Development Council (MSDC) meeting.

By 2030, the country aims to have one Mega shipbuilding park operational on each coast. Additionally, an international arbitration center will be established in Mumbai to handle maritime disputes, a move intended to enhance India's maritime dispute resolution capabilities, which are currently limited compared to major centers like London, Singapore, and Hong Kong.

ET