Winning Bizness Desk

Mumbai. Expanding its business empire, Asia's second richest man Gautam Adani is now planning to enter shipbuilding. Sources privy to Adani group informed that shipbuilding work can start at the flagship port of Adani Group in Mundra, Gujarat. The reason for this is that most of the yards in China, Japan and South Korea are fully booked till at least 2028. This is the reason why big ship operating companies in the world are looking for alternative places for shipbuilding. India is also included in these. To take advantage of this opportunity, Adani Group is seriously considering entering shipbuilding. Adani Group is the largest port operator in the country.

India want to become ship exporter

The Maritime India Vision 2030 targets to make India a top 10 shipbuilder and the Maritime Amrit Kal Vision targets to be among the top five by 2047. Adani Group's plan fits into the country's plan. India's share in the commercial shipbuilding market in the world is just 0.05%. India ranks 20th in the list of countries building commercial ships in the world. Indian-owned and Indian-flagged ships account for about 5% of the country's total foreign cargo requirements. Adani's shipbuilding plan has been included in the Rs 45,000 crore expansion plan for Mundra port. This plan has recently received approval from the Ministry of Environment.

Green shipping to be main motto

Adani Group is preparing to enter shipbuilding at a time when the global shipping industry is gradually moving towards green ships to meet decarbonization goals. According to an estimate, more than 50,000 ships are to be built in the next 30 years to replace the existing fleet. According to a KPMG report, India's commercial shipbuilding market is expected to reach $62 billion by the year 2047.