Sonowal said that both the countries are looking at new areas of cooperation to further the bilateral relations
Defence Minister Rajnath Singh said country has a great opportunity to become an indigenous shipbuilding hub and policies that will help the domestic industry become world-class players.
For FY22, the company said its current order book size stands at Rs 12,000 crore, which includes private, government and navy shipbuilding and ship repairs
Mumbai-based Mazagon Dock Ltd (MDL) is also keen to gain access to Pipavav Shipyard, though it is not participating in the IBC process
Cochin Shipyard, with facilities on the East and West coasts of India, is a leader in commercial and defence shipbuilding and repairs.
Its subsidiary Titagarh Firema has also secured a new contract worth about Euro 70 million for new traction and fire protection systems in the existing fleet of Italy's Trenitalia