Hardeep Singh Puri Holds Key Shipbuilding Meetings to Boost India’s Maritime Vision

Hardeep Singh Puri, Minister of Petroleum and Natural Gas, visited the state-of-the-art HD Hyundai Heavy Industries shipyard in Ulsan today as part of a series of high-level meetings held in Korea on 13–14 November 2025 to strengthen maritime and shipbuilding cooperation. These engagements are aligned with India’s Maritime Amrit Kaal Vision 2047, which aims to expand India’s commercial fleet, enhance domestic shipbuilding capacity, and boost global competitiveness across ship operations, shipyards and maritime plant sectors. Today’s visit builds on discussions with Korea’s leading shipbuilding and shipping companies to advance mutually beneficial collaboration.

During today’s visit to the HD Hyundai Heavy Industries shipyard, the world’s largest shipyard spanning 1,680 acres, the Minister described the experience as highly productive. He noted that India’s rapidly growing energy and shipping sectors, propelled by the Make in India initiative and backed by a youthful population, present a golden opportunity for Korean shipyards to “Make in India for the World.” With nearly 20% of global vessels expected to either come to or go from India in the next 15 years, he highlighted the strategic scope for deeper cooperation. India, as a major importer of energy, already spends USD 5–8 billion annually on freight, and its PSUs alone can procure as many as 59 crude, LNG and ethane vessels. He also reviewed progress under the existing MoU with Cochin Shipyard, noting that plans for a block fabrication facility will be finalised soon.

This visit follows the Minister’s meeting yesterday with HD Hyundai Chairman Mr. Chung Ki-sun at the company’s Global R&D Centre in Seongnam. The delegation was briefed on HD Hyundai’s advanced ship design capabilities and smart shipyard operation systems. Discussions focused on how these engineering strengths can support India’s efforts to strengthen its shipbuilding sector and expand its commercial fleet. HD Hyundai noted that India plans to increase its fleet from 1,500 to 2,500 vessels and invest USD 24 billion under the Maritime Amrit Kaal Vision, including USD 8 billion announced recently for fleet expansion. The company reaffirmed its commitment to partnering with India in realising the country’s maritime ambitions.