What Did Hardeep Puri and HD Hyundai Chief Discuss in Shipbuilding Partnership?
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Synopsis
In a significant meeting in Seoul, Hardeep Singh Puri, Union Minister for Petroleum and Natural Gas, and HD Hyundai's chairman explored partnerships aimed at revolutionizing India's shipbuilding industry. With ambitious plans to invest $24 billion, India targets a dramatic increase in commercial vessels, enhancing its global maritime standing.
Key Takeaways
- HD Hyundai is exploring partnerships with India to boost shipbuilding.
- The Indian government plans a $24 billion investment in maritime initiatives.
- India aims to increase commercial vessels from 1,500 to 2,500.
- Partnerships like the one with Cochin Shipyard Ltd. mark a historic collaboration.
- The Vizhinjam Port has commenced operations as a deep-water hub.
Seoul/New Delhi, Nov 13 (NationPress) HD Hyundai, a premier shipbuilding conglomerate from South Korea, announced on Thursday that its chairman engaged in discussions with Hardeep Singh Puri, the Union Minister for Petroleum and Natural Gas, focusing on expanding collaboration within the shipbuilding and maritime sectors.
During their meeting in Seoul, HD Hyundai Chairman Chung Ki-sun and Puri explored potential partnerships aimed at bolstering India's shipbuilding capabilities and advancing associated technologies, according to a company statement.
The Indian minister's delegation visited South Korea as part of the Maritime ‘Amrit Kaal Vision 2047’ initiative, a crucial program by the Indian government designed to elevate the country to one of the top five shipbuilding nations globally. The strategy aims to increase the commercial vessel count to 2,500, up from the existing 1,500.
To support this vision, the Indian government is planning an investment of $24 billion. Recently, they announced an initial fund of $8 billion to facilitate new vessel construction, as reported by Yonhap news agency.
“HD Hyundai will serve as an exemplary partner in enhancing India's shipbuilding sector through mutual trust,” Chung stated in the release.
Minister Puri expressed optimism that consistent interactions between the Indian government and HD Hyundai would significantly strengthen collaboration in the maritime and shipbuilding domains.
In July, HD Hyundai entered into a partnership agreement with Cochin Shipyard Ltd., India's state-owned shipyard, marking a historic first for a South Korean shipbuilder collaborating with an Indian counterpart.
Last month, Prime Minister Narendra Modi highlighted the maritime sector's role in driving India's growth, noting its significant transformation over the past decade, which has enhanced trade and port infrastructure. He encouraged investors to seize this prime opportunity to invest in India's maritime sector.
“Now is the perfect time to engage and expand within India's shipping arena. Several shipping-related projects have been inaugurated, and substantial MoUs have been established,” stated PM Modi during the Global Maritime CEO Forum, a highlight of the India Maritime Week (IMW) 2025.
He added that in this fast-paced 21st century, India's maritime sector is progressing with remarkable vigor. The Vizhinjam Port, India’s first deep-water international transshipment hub, commenced operations this year, while Kandla Port has achieved a milestone by launching the nation's first megawatt-scale indigenous green hydrogen facility.
Under the ‘Maritime India Vision’, more than 150 initiatives have been launched, leading to substantial advancements in the maritime industry.
Point of View
The collaborative efforts between India's government and HD Hyundai reflect a strategic move towards enhancing India's maritime capabilities. This partnership is poised to not only bolster India's shipbuilding industry but also position the country favorably on a global scale, aligning with its aspirations for economic growth and technological advancement.
NationPress
13/11/2025
Frequently Asked Questions
What is the purpose of the meeting between Hardeep Puri and HD Hyundai?
The meeting aimed to discuss ways to enhance cooperation in the shipbuilding and maritime industries, focusing on expanding India's capabilities.
What investments are planned for India's maritime sector?
The Indian government plans to invest $24 billion in the maritime sector, with an initial funding of $8 billion to support new vessel construction.
What is the Maritime ‘Amrit Kaal Vision 2047’ project?
It is a key initiative by the Indian government aimed at positioning India among the world's top five shipbuilding nations by increasing the number of commercial vessels.
What partnership agreement did HD Hyundai sign recently?
HD Hyundai signed a partnership agreement with Cochin Shipyard Ltd. to promote bilateral cooperation in shipbuilding.
How has India's maritime sector transformed in recent years?
The sector has seen significant growth, enhancing trade and infrastructure, driven by government initiatives and partnerships.
