Had a fruitful bilateral meeting with H.E. Mr. Park Jung-sung, Minister of Trade, Industry and Resources, Republic of Korea, in Seoul. Discussed strengthening India–South Korea cooperation in shipbuilding, maritime manufacturing, port equipment and technology, with a focus on promoting Korean investments in India's rapidly expanding maritime sector. Highlighted the immense opportunities under India's ambitious shipbuilding initiatives and the importance of moving towards a stronger, investment-led partnership. Look forward to deepening our industrial cooperation and building a globally competitive maritime ecosystem together. #IndiaKorea #MaritimeIndia #Shipbuilding #MakeInIndia

CMPS reflects the PM Modi ji-led Govt's unwavering commitment to Aatmanirbharta, manufacturing excellence and a stronger maritime India. It will foster innovation, attract investment, build domestic value chains and contribute to India’s emergence as a trusted global player in container manufacturing and maritime logistics.

The scheme will not only position India as a potential global hub for quality shipping containers but also create substantial employment opportunities. It will generate an estimated 3,000 direct jobs and over 50,000 indirect jobs, while strengthening ancillary industries across the nation.

Through targeted support for capital investment, operational costs, and testing and certification infrastructure, we aim to scale up India’s annual container manufacturing capacity nearly ten-fold to 7.5 lakh TEUs. This will strengthen domestic manufacturing capabilities, reduce import dependence and enhance the resilience of our maritime and logistics supply chains.

'Made-in-India' Containers: Now a Reality! In a historic decision, Cabinet chaired by Hon'ble PM Shri @narendramodi ji approves the Container Manufacturing Promotion Scheme (CMPS) with a budgetary outlay of ₹10,000 crore up to FY 2039–40. This marks a significant step towards building an Aatmanirbhar and globally competitive container manufacturing ecosystem in India. 🧵

A defining milestone for India’s maritime future! In Seoul today, I met with HD Hyundai Chairman Mr. Chung Ki-sun to rapidly advance the massive $4 billion greenfield mega shipyard at Thoothukudi, Tamil Nadu. Guided by Hon'ble PM Shri @narendramodi Ji's vision, India is poised to become a core pillar of HD Hyundai's global future as it reiterates its commitment to participate as the primary strategic investor in this flagship project. To accelerate execution on the ground, a Joint Working Group comprising officials from both sides would steer the project, aiming to finalise the joint venture structure and DPR within six months. By combining South Korea's technological capabilities with India's massive domestic vessel demand, we are driving deep technology transfer and localised manufacturing to build a globally competitive shipbuilding ecosystem. 🇮🇳🤝🇰🇷

Visited the state-of-the-art HD-KSOE shipyard in Ulsan and held a fruitful meeting with the leadership of HD Hyundai, one of the world's leading shipbuilders. Discussed deepening cooperation in maritime manufacturing, port equipment and advanced green vessel technologies. I highlighted India’s surging cargo demand and business-friendly ecosystem as we build a globally competitive shipbuilding hub. Building on deep 🇮🇳-🇰🇷 ties, we are uniting Korea's technological prowess with India's economic scale to forge resilient global supply chains and an Aatmanirbhar maritime ecosystem.

A busy day ahead in Seoul! 🇮🇳🤝🇰🇷 Stay tuned for exciting news from the shipping sector as we forge stronger India-Korea maritime ties.