India–Republic of Korea Partnership in Maritime Sector

During the state visit of President Lee Jae Myung to India, he and Prime Minister Narendra Modi held detailed discussions on strengthening cooperation in shipbuilding, shipping, and maritime logistics. Both countries highlighted their shared maritime heritage and complementary strengths, agreeing that closer collaboration can bring strong economic and strategic benefits.

India outlined its long-term maritime vision under “Maritime Amrit Kaal 2047,” emphasizing major opportunities for Korean participation. These include developing large greenfield shipbuilding clusters, supported by government incentives and financing schemes. Korea expressed interest in contributing through its advanced expertise in ship design, manufacturing, and operations.

Both sides welcomed ongoing collaborations, including a proposed large shipyard project in southern India involving Korean industry and Indian partners. They also noted India’s plan to acquire over 400 vessels (worth about USD 25 billion), which could drive joint industrial partnerships and boost domestic shipbuilding.

The countries agreed to:

• Upgrade existing Indian shipyards with Korean collaboration
• Expand supply chains for shipbuilding components
• Encourage Korean firms to invest and manufacture locally
• Strengthen institutional ties, including industry associations

They also emphasized skill development through a joint training initiative supported by Korea’s development agency and India’s maritime ministry.

India encouraged Korean shipping companies to take advantage of its financial and regulatory ecosystem, including incentives for registering ships in India. India’s growing pool of skilled seafarers was highlighted as an asset for Korean shipping operations.

In port development, both sides signed agreements to collaborate on infrastructure projects, opening opportunities for Korean companies in India’s expanding port sector pipeline.

Additional agreements include cooperation in:

• Advanced port equipment manufacturing (including automated cranes)
• Maritime education and research partnerships between universities
• Development of green shipping and autonomous vessel technologies
• Maritime heritage preservation and collaboration

Both leaders expressed satisfaction with the progress made and confidence that this partnership will significantly strengthen maritime industries in both countries while contributing to global trade and economic growth.

Reference: PIB