Samsung enters India’s shipbuilding market with SDHI partnership

Korean shipbuilding giant Samsung Heavy Industries (SHI) on Monday announced its entry into India’s shipbuilding industry through a strategic partnership with Swan Defence and Heavy Industries (SDHI), headquartered in Gujarat. The collaboration is aimed at supporting India’s state-led initiative to boost domestic shipbuilding capabilities.

Under the agreement, both companies will explore cooperation across a broad spectrum of maritime projects, including engineering, procurement, and management in shipbuilding. SDHI, India’s largest shipyard, accounts for 30 per cent of the country’s shipbuilding capacity and operates the nation’s largest dry dock, capable of constructing very large crude carriers (VLCCs) and other maritime infrastructure.

Samsung plans to gradually expand its operations in India, leveraging SDHI’s shipyard as a foothold to tap into the country’s growing maritime logistics sector. According to Grand View Research, India’s shipping industry is projected to grow at a compound annual growth rate (CAGR) of 6.4 per cent between 2025 and 2030.

“This collaboration blends technological expertise with strong market presence, making it a model partnership that delivers mutual benefits,” said Namgung Geum-sung, Vice President of Samsung Heavy Industries.

The partnership is expected to introduce advanced shipbuilding technology, project management practices, automation, and green ship construction techniques to Indian yards. Indian engineers and workers are also likely to benefit from training programs in advanced shipbuilding technologies.

The scale of investment in the sector is substantial. SDHI has signed a ₹4,250 crore agreement with the Gujarat Maritime Board for modernization and capacity expansion of its shipyard, while the Indian government has proposed a USD 3 billion Maritime Development Fund in its 2025 budget to support shipbuilding, repair, and maritime infrastructure operations. Broader government initiatives aim to enhance domestic shipbuilding capacity and position India among the world’s leading maritime nations by 2047.

The Indian government aims to become one of the world’s top five shipbuilding nations by 2047 and secure 1,000 commercial vessels within the next decade. In December 2024, high-ranking officials from India’s Ministry of Ports, Shipping and Waterways visited major Korean shipyards, including SHI’s Geoje facility in South Gyeongsang Province, to discuss collaboration in shipbuilding.

The SHI-SDHI partnership is expected to play a key role in strengthening India’s shipbuilding industry, introducing advanced technology, and contributing to long-term maritime sector growth.