Image Credits: Northeast Herald
India has called upon Japan and South Korea to participate in what is being dubbed the ‘Maruti moment’ for the country’s shipbuilding industry, referencing the transformation of India’s automobile sector decades ago.
India seeks to replicate the success of its automobile industry, where international collaborations, such as that with Maruti Suzuki, revolutionized manufacturing. Sonowal urged shipbuilders from Japan and South Korea—both global leaders in ship manufacturing—to invest in and collaborate with India’s burgeoning shipbuilding sector. He highlighted India’s ambition to become a self-reliant global hub for ship production through strategic partnerships and technology transfers.
The ‘Maruti moment’ for Indian shipbuilding refers to the significant potential for growth and modernization in the sector, as the country aims to build state-of-the-art vessels, both for domestic use and export. Sonowal emphasized the alignment of this initiative with India’s Aatmanirbhar Bharat mission, which focuses on reducing import dependency and fostering local manufacturing.
With its long coastline and rapidly growing maritime economy, India offers a promising market for foreign shipbuilders. The government has implemented policies to encourage foreign direct investment (FDI), enhance infrastructure, and streamline regulatory procedures. Shipbuilding giants from Japan and South Korea have been encouraged to leverage these opportunities to expand their footprint in India, bringing in advanced technologies and expertise.
Collaborations with Japanese and South Korean firms are expected to significantly enhance India’s shipbuilding capacity, create jobs, and boost technological advancements. If successful, this initiative could position India as a competitive player in the global shipbuilding industry, much like the impact Maruti Suzuki had on the Indian automobile market.