KOLKATA, Aug 23: Defence Minister Rajnath Singh on Sunday said India has the potential to emerge as a global shipbuilding hub by leveraging the opportunities created by declining production in some traditional shipbuilding nations.
Addressing a gathering in Kolkata after virtually laying the foundation stone for five expansion projects of Garden Reach Shipbuilders and Engineers (GRSE) and Yantra India Ltd, Singh said rapid technological advancements were transforming the shipbuilding sector.
He said India had several advantages, including a large workforce, a strong steel industry and the ability to adopt new technologies.
"India is capable of seizing this opportunity to become a global shipbuilding hub," Singh said.
The five projects, involving three GRSE facilities and two of Yantra India, have a combined investment of nearly Rs 3,500 crore.
Singh said the projects would strengthen India's defence manufacturing capabilities while contributing to industrial development and employment generation in West Bengal.
As part of its capacity expansion, GRSE has signed lease agreements with Syama Prasad Mookerjee Port, Kolkata, for two small shipyards on either bank of the Hooghly and a 32-acre riverside property at Raichak.
The Raichak facility is proposed to be developed as a shipbuilding hub with an investment of more than Rs 2,500 crore.
At Yantra India's Metal and Steel Factory in Ishapore, two facilities involving an investment of over Rs 750 crore will boost indigenous metallurgical and defence manufacturing capabilities.
Singh said the projects would also generate employment and create opportunities for ancillary industries, particularly MSMEs.
He further said West Bengal was witnessing a shift from factory closures and industrial lockouts towards new development projects.
West Bengal Chief Minister Suvendu Adhikari said the state would work towards faster development and alleged that previous governments had failed to cooperate adequately with the Centre.
