NewKerala.com

Key Points

Tamil Nadu is set for a massive industrial transformation with two major PSU investments. Cochin Shipyard and Mazagon Dock will pour Rs 30,000 crore into new shipbuilding facilities. This project is expected to create a staggering 55,000 new jobs in the state. Prime Minister Modi linked this initiative to reversing decades of policy neglect that saw India's shipbuilding dominance collapse.

Key Points: Tamil Nadu Global Shipbuilding Hub with Rs 30000 Cr PSU Investment

  • Two Central PSUs investing Rs 30000 crore in new Tamil Nadu shipyards
  • Project to generate 55000 jobs boosting state employment
  • Initiative aims to restore India's historic position as maritime leader
  • PM Modi cited past policy failures that crippled domestic shipbuilding
2 min read

Tamil Nadu to become global shipbuilding hub with Rs 30,000 Cr investment from Central PSUs

Cochin Shipyard and Mazagon Dock to invest Rs 30,000 crore in Tamil Nadu, creating 55,000 jobs and establishing a world-class shipbuilding hub.

"This is not just investment -- it's a wave of growth, sustainability, and opportunity for the future. - Amit Malviya"

New Delhi, September 23

In a major boost to Tamil Nadu's industrial landscape, two Central Government Public Sector Undertakings (PSUs) -- Cochin Shipyard Ltd and Mazagon Dock Shipbuilders Ltd -- are set to invest a combined Rs 30,000 crore to establish state-of-the-art Greenfield commercial shipyards in the state.

BJP leader Amit Malviya shared this on social media post X, it said MoUs will generate 55,000 jobs and mark Tamil Nadu's significant rise as a global hub for shipbuilding and maritime innovation.

"Cochin Shipyard Ltd: Rs 15,000 crore investment | 10,000 jobs (4,000 direct, 6,000 indirect) in Phase 1. Mazagon Dock Shipbuilders Ltd: Rs 15,000 crore investment | 45,000 jobs (5,000 direct, 40,000 indirect)," BJP leader added in the post, sharing the details of the development."Together, these two Ultra Mega MoUs will generate 55,000 jobs and mark Tamil Nadu's rise as a global hub for shipbuilding and maritime innovation.

This is not just investment -- it's a wave of growth, sustainability, and opportunity for the future. Thank you, Prime Minister Narendra Modi, for your vision and unwavering support for Tamil Nadu's progress," the X post added.

Prime Minister Narendra Modi on September 20 also inaugurated and laid foundation stone of development works worth over Rs 34,200 crore in Bhavnagar, Gujarat.Citing India's shipping sector as a major example of the damage caused by flawed policies, Modi remarked that India was historically a leading maritime power and one of the world's largest shipbuilding hubs. Ships built in India's coastal states once powered domestic and global trade. Even fifty years ago, India used domestically built ships, with over 40 per cent of import-export conducted through them. The Prime Minister had criticised the current opposition party, stating that the shipping sector later fell victim to their misguided policies, and instead of strengthening domestic shipbuilding, they preferred paying freight to foreign vessels. This, he said led to the collapse of India's shipbuilding ecosystem and forced dependence on foreign ships. As a result, the share of Indian ships in trade dropped from 40 per cent to just 5 per cent.

The Prime Minister emphasised that currently, 95 per cent of India's trade relies on foreign ships--a dependency that has caused significant loss to the nation.

- ANI

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Reader Comments

A
Arjun K
Tamil Nadu has excellent coastline and skilled workforce. Perfect location for shipbuilding hub. Hope this creates sustainable long-term growth, not just temporary jobs.
R
Rohit P
While investment is welcome, I hope environmental concerns are properly addressed. Coastal ecosystems are fragile - need sustainable shipbuilding practices.
S
Sarah B
Great to see India rebuilding its shipbuilding capacity! Reducing dependence on foreign ships is crucial for national security and economic sovereignty.
V
Vikram M
Hope the benefits reach local communities and small businesses. Infrastructure development should not displace fishermen and coastal communities.
M
Michael C
Impressive scale of investment! Tamil Nadu's manufacturing capabilities combined with maritime expertise could make India a global player in shipbuilding again.
K
Kavya N
Good initiative but hope it's implemented properly. Past projects sometimes promised big but delivered little. Need transparency in job creation numbers.

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