[The Korea Herald/ July 6, 2025] HD Korea Shipbuilding &Offshore Engineering, the shipbuilding arm of HD Hyundai, said Sunday that it has signed a comprehensive memorandum of understanding with India’s largest state-owned shipbuilder, Cochin Shipyard Limited, marking a major step in expanding its footprint in the world’s most populous market.

Located in the southern Indian state of Kerala, CSL is majority-owned by the Indian government and has acquired a reputation for its capabilities in building and maintaining a wide range of vessels, from commercial ships to aircraft carriers. Over the past five years, CSL has successfully delivered 70 ships.

The agreement includes long-term cooperation in areas such as ship design support, equipment supply, technical collaboration and workforce training.

The two parties will boost CSL’s productivity and global competitiveness while opening up joint opportunities for vessel orders in both India and abroad.

This collaboration aligns with India’s national maritime initiatives, including the Maritime India Vision 2030 and Amrit Kaal Vision 2047.

India is actively investing in its maritime sector, including a 250 billion rupee ($2.92 billion) Maritime Development Fund launched this year.

India’s shipbuilding market has surged more than 12-fold since 2022 and is expected to grow over 60 percent annually through 2033, according to market research firm Ken Research.

“This bilateral partnership is a critical move to strengthen our influence in the fast-growing Indian market and to support domestic equipment suppliers in expanding overseas,” said an HD KSOE official.