By K Mohandas

India aims to be among the top five shipbuilding nations by 2047 and secure 5% share of the market in five years. It is a strategic multiplier industry, but achieving the targets will be challenged by the base effect. Shipyards must gear up to implement Industry 4.0, explains K Mohandas

Ships used in international trade represent the best in global human partnerships; the ownership, manufacture, registration and flagging, finance, manning, and cargo do not conform to usual national identities. However, international relations—political as well as commercial—can change dramatically over short periods. Globalisation has been in reverse mode in the recent past. Traditionally, merchant ships have been called the second line of naval defence; they ensure energy security and food security. They will come in handy for exports and imports when other countries, blocs, or even international organisations declare sanctions or restrictions affecting our national interest. When there is an embargo on the handling of Russian or Iranian oil, or on Chabahar Port built and managed by India, a strong commercial fleet would be an assertive sign of independence and self-reliance. These are times when the WTO and even the UN have reduced clout. India’s share of 1.2% in global tonnage is inadequate, even considering its share in global merchandise trade is pegged at 1.8%. Even in normal times, the forex outflow is........

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