Seoul: HD Hyundai, South Korea's prominent shipbuilding conglomerate, announced that its chairman recently engaged in discussions with Hardeep Singh Puri, India's minister for petroleum and natural gas. The talks centered on expanding collaboration in the shipbuilding and maritime industries, with a focus on enhancing India's shipbuilding capabilities and advancing associated technologies, as per a company press release.

According to Yonhap News Agency, the meeting was part of the Indian delegation's visit to South Korea, aligning with the Maritime Amrit Kaal Vision 2047 project. This initiative is a key component of India's strategic plan to position itself among the world's top five shipbuilding nations. The ambitious project aims to increase the number of commercial vessels from the current 1,500 to 2,500.

To support this vision, the Indian government has committed to investing US$24 billion. In October, it announced an initial funding of $8 billion dedicated to new vessel construction. HD Hyundai Chairman Chung Ki-sun expressed confidence in the partnership, stating, "HD Hyundai will be the best partner to help advance India's shipbuilding industry based on mutual trust."

Minister Puri conveyed optimism that ongoing exchanges between the Indian government and HD Hyundai would bolster cooperation in the shipbuilding and maritime sectors. This collaboration follows HD Hyundai's partnership agreement with India's state-owned Cochin Shipyard Ltd. in July, marking the first collaboration between a South Korean shipbuilder and an Indian company.