The Ministry of Ports, Shipping and Waterways announced on 26 October 2026 that Union Minister Sarbananda Sonowal has called for universal maritime rules that account for different national capabilities. During a visit to South Korea, the Minister invited the Korea Marine Equipment Association (KOMEA) to invest in India's maritime sector to reduce reliance on imported high-value equipment. KOMEA will open its first Indian office in Mumbai on 30 October 2026. The Minister highlighted a $7.8 billion shipbuilding package approved in September 2025 and a projected 10-year order book of 400 vessels worth approximately $23 billion for Indian shipyards.
Key points
- KOMEA to open its first India office in Mumbai on 30 October 2026
- India approved a shipbuilding package worth about $7.8 billion in September 2025
- Projected order book for Indian shipyards: 400+ vessels worth about $23 billion over 10 years
- Shipbuilding output grew by more than 80% in 2026
- Five maritime laws enacted in 2025 took effect in March 2026
When it applies
- Five maritime laws enacted in 2025
- KOMEA opens first India office in Mumbai
- Approval of shipbuilding package
Who it affects
- Korea Marine Equipment Association
Refers to
- VOYAGES
- Hong Kong Convention (HKC)