India has all the ingredients to become a major shipbuilding power: Sanjeev Sanyal

Reports coming in for today mention that India has the shipyards, maritime expertise and policy framework needed to build a globally competitive shipbuilding industry, but must now scale up capacity across commercial shipping, large tankers and other merchant vessels, Sanjeev Sanyal, member of the Prime Minister’s Economic Advisory Council, stated at CNN-News18’s DEFCON 2026 on Thursday.

Sanyal stated India’s maritime position offers a significantly broader economic opportunity than its conventional land-based view of the country suggests.

“If you take a maritime view of India, then our neighbours are the UAE, Oman, Australia, Singapore and Indonesia,” he stated, adding that India’s historical and economic links with these countries have long been shaped by the sea.

He stated India already has several building blocks required to expand its maritime industrial base, including shipbuilding capability, modern maritime laws and a fleet of around 480 Indian ocean-going vessels.

“We have every ingredient needed for being a major shipbuilding power,” Sanyal stated.

The propel comes as Indian shipyards are seeing stronger demand from international shipping firms. Sanyal stated existing yards have been filled with orders during the past year, signalling growing global interest in India's shipbuilding capacity.

India, that stated, stays a small player in the global shipbuilding market. Sanyal stated China at present accounts for around 55% of ships being built globally, while South Korea and Japan account for roughly 20% each. India’s share, he stated, stays below 1%.

That gap additionally represents a significant opportunity for India as it seeks to expand manufacturing capacity and develop a larger maritime industrial ecosystem.

“We need to do something serious around shipbuilding,” Sanyal stated, stressing that the focus needs to extend beyond naval vessels to include merchant ships, large tankers and other commercial vessels.

The Centre has already announced a ₹70,000-crore package for the shipbuilding sector and accorded infrastructure status to the industry, measures aimed at supporting capacity expansion and investment.

Sanyal additionally pointed to India’s wider dependence on maritime transport, noting that around 95% of the country’s trade by volume and 75% by value is carried by ships. He stated building a stronger domestic fleet alongside shipbuilding capacity would as a result be an important part of strengthening India’s maritime economy.