In a landmark move to bolster India’s domestic shipbuilding industry, the state‑owned Shipping Corporation of India (SCI) is planning to acquire 26 locally built ships for approximately ₹19,820 crore (around $2.3 billion), reports Business Standard.
Strategic Vision Behind the Order
Spanning multiple years, delivery of these vessels—totaling an internal volume of 1.18 million gross tonnes—is expected to be staggered as individual ships are completed. This initiative is part of a wider government effort: key sectors like petroleum, natural gas, steel, and fertilizers are set to place orders for a combined 207 ships at a cost nearing ₹1.5 trillion.
The government previously announced a ₹25,000 crore maritime fund this year aimed at reducing dependency on foreign-built vessels and promoting indigenous shipbuilding capacity.
Long-Term Goals and Broader Implications
Presently, locally built tankers account for around 5% of the fleet. The plan is to increase this to 7% by 2030, with a grander ambition of reaching 70% by 2047, aligning with India’s goal for economic maturity.
Strengthening India’s Maritime Ecosystem
This substantial procurement will significantly enhance SCI’s fleet—currently composed of 55 vessels, including tankers, bulk carriers, liners, and offshore support ships—while serving as a major demand booster for Indian shipyards.
It also strengthens India’s maritime autonomy, creating employment, encouraging technology transfer, and helping the country cut foreign capital outflows by sourcing vessels domestically.
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Source: Business Standard
