Billionaire Gautam Adani plans to begin shipbuilding operations at the Adani group’s flagship Mundra Port, as shipyards in China, Japan and South Korea are completely booked until 2028.
The initiative is expected to establish India as a viable option for global fleet owners seeking new vessel production facilities.
KPMG report
According to the KPMG report, to meet these targets, Indian shipyards’ yearly output must rise from 0.072 million gross tonnage (GT) to 0.33 million GT by 2030 and then to 11.31 million GT per year by 2047.
The Adani Group has announced substantial investments in ongoing and upcoming port projects.
The Group intends to establish the world’s largest renewable energy manufacturing facility in Mundra, Gujarat.
The Adani Group’s entry into shipbuilding is expected to boost India’s expanding shipbuilding industry while contributing to the global shift towards green ships, propelled by decarbonization targets.
The group’s investment in the shipbuilding sector reflects an overall increase among global fleet owners who consider India an alternate manufacturing destination for new vessels.
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Source: Marine Insight
