The discussions covered shipbuilding investment, port development, shipping services, maritime technology, sustainable ship recycling and financing. India aims to develop a globally competitive shipbuilding, shipping and maritime services industry by 2047.
Sonowal said India's shipbuilding sector was expanding, supported by government policies and initiatives under Prime Minister Narendra Modi's leadership.
During his meeting with Hadjimanolis, Cyprus reaffirmed its support for India's efforts to secure European Union recognition for eligible Indian ship-recycling facilities. The two sides also discussed shipbuilding, maritime investment, shipping services and seafarer welfare. Hadjimanolis said around 25 leading Cypriot companies were expected to visit India in November to explore partnerships in shipping, ship management and maritime technology.
Sonowal also met Kim Jin-jong, CEO of Sejin Heavy Industries, to discuss potential manufacturing partnerships involving large shipbuilding blocks, LPG and LNG cargo tanks, cryogenic structures and specialised marine equipment. Cochin Shipyard Ltd (CSL) explored the possibility of collaborating with Sejin on block fabrication. The discussions focused on expanding India's domestic manufacturing capabilities to support shipbuilding and green shipping requirements.
In a separate meeting, Sonowal and Yang Won-chang, President of the Korea Marine Equipment Research Institute (KOMERI), discussed cooperation in marine equipment manufacturing, research and development, testing, certification, green propulsion and smart maritime technologies. The two sides explored institutional collaboration between KOMERI and the proposed India Ship Technology Center (ISTC). Sonowal invited KOMERI and Korean marine equipment manufacturers to explore technical and industrial partnerships in India.
The minister said the proposed ISTC would support ship design, research, testing and training, helping Indian-made marine equipment meet international standards and preparing domestic shipyards for green propulsion and smart ship technologies.
The Indian delegation also held discussions with a team led by Jay Y. Lee, Senior Executive Vice President of South Korean shipping company HMM, on registering vessels under the Indian flag, recruiting Indian seafarers, using Indian ship-recycling facilities compliant with the Hong Kong Convention and expanding shipping services to additional Indian ports.
In a meeting with Ahn Byung-gil, CEO of Korea Ocean Business Corporation (KOBC), the delegation explored investment and business opportunities in India's maritime sector, particularly in port infrastructure and shipping.
Sonowal invited South Korean maritime financing institutions to collaborate with Indian stakeholders. India has approved a shipbuilding support package of approximately USD 7.8 billion, while new shipbuilding clusters are being developed. The country also has a pipeline of more than 400 vessels estimated to be worth USD 23 billion.
The meetings are intended to strengthen international partnerships across shipbuilding, maritime finance, equipment manufacturing, shipping and sustainable maritime technology, supporting India's ambition to become a global maritime hub by 2047.
