Shipping Minister Encourages South Korean Investment in India's Maritime Sector
Minister's Visit to South Korea
Sonowal is on a 4-day visit to South Korea. (Photo: X)
New Delhi, Oct 27: During his four-day trip to South Korea, Shipping Minister Sarbananda Sonowal has called on South Korean companies to invest in India's shipbuilding sector, emphasizing the need for globally applicable maritime regulations, as stated in an official announcement.
Sonowal highlighted that India advocates for international standards that are both ambitious and universally applicable, while also acknowledging the unique circumstances, technological advancements, and financial access of different nations.
The minister referenced the principle of common but differentiated responsibilities and respective capabilities in his discussions.
He described the International Maritime Organization (IMO) conventions as a crucial guide for shipping amidst geopolitical tensions, piracy, and disruptions in the Red Sea, which are vital for safeguarding seafarers, trade, and supply chains. He suggested that practical partnerships and collaborative working groups could effectively bridge gaps by pairing nations that have successfully implemented conventions with those still developing their capacities, including training surveyors and inspectors, assisting in legislative drafting, and establishing time-bound plans. Sonowal emphasized the goal of fostering enduring national capabilities rather than creating ongoing dependencies.
Sonowal noted that India has laid a solid foundation for its maritime laws, with five new laws enacted in 2025 coming into effect in March 2026. He mentioned that India's Maritime Single Window now encompasses 69 ports and terminals, and the Alang-Sosiya yard boasts 115 ship recycling facilities compliant with the Hong Kong Convention (HKC) within the IMO framework.
This theme was echoed during Sonowal's meeting with the Korea Marine Equipment Association (KOMEA), established in 1980, which represents 304 manufacturers of equipment, design firms, shipbuilders, and repairers, including major players like HD Hyundai, Hanwha Ocean, and Samsung Heavy Industries.
KOMEA is set to inaugurate its first office in Mumbai on October 30, a development welcomed by both governments in April under the VOYAGES framework aimed at enhancing cooperation in shipbuilding, shipping, and maritime logistics.
In February 2025, KOMEA expressed its willingness to collaborate with Indian shipyards on design, modernization, technology transfer, joint educational initiatives, and local production of marine equipment and spare parts.
KOMEA Chairman Ho-il Kang indicated that members are preparing to enter the Indian market within the next two years, with discussions among KOMEA members, including SB Sunbo, Daeyang, KASEMEC, JO Engineering, and others, focusing on potential investments in India's maritime industry.