Mega Shipyards by HD Hyundai and Imabari Set to Transform Indian Maritime Sector, Raise Competition Concerns

Two global shipbuilding giants, HD Hyundai and Imabari, are planning to establish mega shipyards in India, each with an annual capacity of around 4 million gross tons (GT). HD Hyundai's facility is proposed at Thoothukudi, while Imabari is eyeing Dugarajapatnam for a similar greenfield project. These developments could nearly double India's Maritime Vision 2047 target of 4.5 million GT output by adding up to 8–10 million GT in total capacity, greatly accelerating the nation's ambitions. However, the entry of these foreign mega yards raises concerns about the competitiveness of Indian shipyards, which may struggle to keep pace unless they rapidly improve productivity, technology adoption, and efficiency. Financial analysis suggests the Government of India will invest around ₹30,240 crore (45% of the total CAPEX) in these projects, but may take more than four decades to recoup its investment from profit shares. Industry experts warn that Indian yards must embrace advanced design, automation, and ongoing government support to remain relevant in the face of intensified competition.