Akshata Sharma
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The Adani Group's foray into shipbuilding coincides with the global shipping industry's gradual shift towards eco-friendly vessels to achieve decarbonization targets.
One estimate suggests that over 50,000 ships need to be constructed in the next 30 years to replace existing fleets.
According to KPMG, the ancillary industry, which includes tier 1, 2, and 3 suppliers, is expected to add $37 billion in value by 2047, potentially creating around 12 million jobs. To achieve the targets set by the Maritime India Vision 2030 and Amrit Kaal Vision, Indian shipyards must increase their annual output from the current 0.072 million gross tonnage (GT) to 0.33 million GT by 2030 and further to 11.31 million GT per year by 2047.
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