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Shipping | August 19, 2013
#38168

India to be next ship building hub: Minister

India would be the "next hub" of ship-building industry among the emerging economies, Union Shipping Minister GK Vasan told reporters.

   

Giving examples of USA, western European countries and Japan and South Korean in Asia, the minister stressed the role of a robust ship-building industry in an economy.

   

Indian ship manufacturers could be benefited from the 87 per cent growth in tonnage capacity in shipping industry globally, the minister said.

   

But he warned that the strain on the world economy remains an issue and it is likely to continue for a year.  He said this when asked if his ministry is looking forward to global orders in the wake of the Cochin Shipyard's success in building INS Vikrant, India's first indigenous aircraft carrier.

   

By successfully taking up the challenge of INS Vikrant, Cochin Shipyard Limited has demonstrated its status globally, the minister said.

   

CSL's Chairman-cum-Managing Director Commodore K Subramaniam said his shipyard has redeemed the trust and faith put in it by the government in substantial measure with the launch of INS Vikrant.

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