Datanomics: Better Russia ties likely to push shipbuilding sector

India's shipbuilding ambitions gain traction as Russia eyes joint polar-vessel production and HD Hyundai plans a Tamil Nadu shipyard, even as private yards outpace public ones

Russia’s First Deputy Prime Minister Denis Manturov recently said the two countries were exploring joint production of polar-class vessels in India, which would give a boost to its shipbuilding capabilities. South Korean conglomerate HD Hyundai has also announced plans to build a shipyard in Tamil Nadu. Last month, speaking at the India Maritime Week 2025, PM Narendra Modi had emphasised the importance of building a domestic fleet and increasing shipbuilding to become a major global player. 

 

India’s share down in the last decade

 

India’s share in global shipbuilding came down from 0.15