Now Gautam Adani will also build ships! The world needs more than 50,000 commercial ships in 30 years
New Delhi: Gautam Adani, the second richest man in India and Asia, is now planning to enter shipbuilding. Ship building work can start at Adani Group’s flagship port in Mundra, Gujarat. This is because most yards in China, Japan and South Korea are fully booked until at least 2028. This is the reason why big ship operating companies in the world are looking for alternative places for shipbuilding. India is also included in these. To take advantage of this opportunity, Adani Group is seriously considering entering shipbuilding. Adani Group is the country’s largest port operator.
India is targeted to become a top 10 shipbuilder in the Maritime India Vision 2030 and among the top five by 2047 in the Maritime Amrit Kaal Vision. Adani Group’s plan fits into this plan of the country. India’s share in the world commercial shipbuilding market is only 0.05%. India ranks 20th in the list of commercial ship building countries in the world. Indian-owned and Indian-flagged ships account for about 5% of the country’s total overseas cargo requirements. Adani’s shipbuilding plan has been included in the Rs 45,000 crore expansion plan for Mundra port. This scheme has recently received approval from the Environment Ministry.
62 billion dollar market
Adani Group is preparing to enter shipbuilding at a time when the global shipping industry is gradually moving towards green ships to meet decarbonization targets. It is estimated that more than 50,000 ships are to be built over the next 30 years to replace the existing fleet. Adani Group did not respond to the email sent in this regard. According to a report by KPMG, India’s commercial shipbuilding market is expected to reach $62 billion by the year 2047. Also, the supporting industry related to it can reach 37 billion dollars. This is expected to provide jobs to 1.2 crore people.
According to KPMG, to reach the Maritime India Vision 2030 and Amrit Kaal Vision targets, the annual output of Indian shipyards needs to increase from 0.072 million gross tonnes to 0.33 million gross tonnes by 2030 and to 11.31 million gross tonnes by 2047. achieve
What is the advantage
Experts say that it may take a lot of time for a new company to enter this sector but the conditions are easy for Adani Group. It has German and environmental clearance for this. This will be Adani Group’s first step in heavy engineering. Getting SEZ status will help Adani Group to overcome many financial and tax challenges. Due to these challenges, local companies are unable to compete with Chinese shipbuilding companies. There are eight government yards and about 20 private yards in India. Larsen & Toubro operates a yard at Kattupalli near Chennai.
