India PM Narendra Modi held delegation level talks with RoK PM Lee Jae Myung in New Delhi, April 20, 2026.
Modi and Lee Agree on Strategic Partnership in Shipbuilding, Shipping and Maritime Logistics: New Delhi: Narendra Modi and Lee Jae Myung have outlined an expanded framework for cooperation in shipbuilding, shipping and maritime logistics, signalling closer economic and industrial ties between the two countries.
The discussions took place during President Lee’s state visit to India on 20 April 2026, where both sides emphasised a shared vision for long-term collaboration across maritime industries under what has been described as the “VOYAGES” initiative — a framework focused on operational growth with efficiency and scale.
Shared maritime ambitions drive cooperation
India and South Korea, both with longstanding maritime traditions, highlighted their complementary strengths in shipbuilding and logistics. The Indian government underlined that its maritime sector is central to economic growth and national security, particularly as the country expands its global trade footprint.
Officials noted that India’s Maritime Amrit Kaal 2047 Vision has created new opportunities for collaboration with South Korea, a global leader in shipbuilding. The partnership is expected to focus on shipbuilding, port development and logistics, with the aim of generating economic value while strengthening bilateral ties.
Focus on shipbuilding clusters and industrial investment
India invited South Korean shipbuilders to participate in the development of large-scale greenfield shipbuilding clusters, offering incentives under its Shipbuilding Development Scheme as well as support from state governments and financial institutions.
Both sides acknowledged progress in early-stage industrial cooperation, including a non-binding agreement involving HD Korea Shipbuilding & Offshore Engineering and India-based partners for the development of a major shipyard in southern India. The project is expected to cover financing, construction and long-term operations.
India’s announcement of a procurement plan for more than 400 vessels, valued at approximately $25 billion, was also highlighted as a key driver for future collaboration. The initiative is expected to create sustained demand across the shipbuilding supply chain.
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India PM Narendra Modi with RoK PM Lee Jae Myung in New Delhi, April 20, 2026.
Upgrading shipyards and expanding supply chains
The two countries agreed to support joint efforts to upgrade existing Indian shipyards, including investments in advanced manufacturing infrastructure such as block fabrication facilities for large vessels.
They also pointed to opportunities for South Korean component manufacturers to expand into India, supported by growing domestic demand and policy incentives. The opening of a Mumbai branch of the Korea Marine Equipment Association was noted as a step towards strengthening industrial links.
Skills development and workforce collaboration
Cooperation on workforce development emerged as another key area. A training project led by the Korea International Cooperation Agency in partnership with India’s Ministry of Ports, Shipping and Waterways is expected to support skill development in shipbuilding.
India also highlighted its expanding pool of seafarers, estimated at more than 320,000, as a resource for South Korean shipping companies. Officials suggested that regulatory and financial incentives could encourage Korean shipowners to register vessels in India.
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Port development and infrastructure opportunities
The two sides welcomed a separate agreement on port development cooperation, opening opportunities for South Korean firms to participate in India’s infrastructure pipeline. Planned projects include large-scale container and multipurpose terminals across several states, reflecting India’s push to modernise its port capacity.
In addition, an agreement involving Bharat Earth Movers Limited and South Korean partners will focus on the joint design and manufacture of next-generation maritime and port cranes, including autonomous systems.
Expanding cooperation in education and research
Discussions also covered academic collaboration, with ongoing talks between Indian Maritime University and Korea Maritime and Ocean University. The proposed partnership includes joint programmes in marine engineering and port management, as well as research into green shipping and autonomous vessels.
Maritime heritage and long-term partnership outlook
Both countries also agreed to cooperate on maritime heritage initiatives, including exchanges of artefacts and research collaboration. India highlighted the development of the National Maritime Heritage Complex at Lothal, which is expected to become a major global centre for maritime history.
Prime Minister Modi and President Lee expressed satisfaction with the direction of bilateral cooperation and indicated that the partnership is expected to deepen in the coming years, with potential benefits extending beyond the two countries to the wider global maritime sector.
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