Shipbuilding can contribute immensely to the vision of making India a $5 trillion economy.  A growing Indian economy, favourable government policies and incentives framework, a long coastline and growing sea borne trade present a huge business opportunity.  The growth drivers for this sector include, low labour cost, availability of a skilled workforce, robust domestic demand and a growing steel industry in the country. India currently has around 28 major shipyards, with 6 under the Central Government, 2 under State Governments, and the remaining under the private sector. Private players hold the majority of shipbuilding capacity, three public entities (Goa Shipyard Limited, Cochin Shipyard Limited and Hindustan Shipyard Limited)  have the required infrastructure and capacity to build large vessels.

 A shipbuilding project creates logistics, spares and project support ecosystems, comprising OEMs, ancillary industries and MSMEs.   In the mercantile marine sector, there is enough opportunity for India to attain the critical mass and also become a hub for defence shipbuilding. In addition, there is a growing consensus that India’s naval shipbuilding enterprise must hinge on ‘Make-in-India', which will throw up more opportunities for ancillary industries. Tata Steel's sophisticated steel offerings are fully geared to meet the needs of India's  shipbuilding, maintenance & repair projects.