Export orders for defence shipping companies.
Our defence Shipping companies have come a long way not only to assist to become self reliant India - Atma nirbhar Bharat, but also participating in generating revenues from export market.
Currently, India has less than one percent share of the global shipbuilding market, which is largely dominated by China, South Korea, and Japan. Replacement of aging fleets is a top concern for most shipowners, specifically in Europe which is implementing some of the toughest maritime environmental regulations. The growing orders from European shipowners are however helping India as it vies for a top position in the industry.
Earlier, Mazgaon dock and Cochin shipyards, Garden reach had signed master service agreement with US Navy.
While Defence shipping companies are taking the lead in exports, others are not lagging behind…HAL, BEL, Bharat dynamics , Midhani , Solar industries , L&T , Bharat forge and many others including ancillaries.