As India’s shipping sector eyes continued growth in years to come, the country’s ministry of defense will ensure that the shipping sector receives the necessary assistance for growth, said Union Minister for Defense Manohar Parrikar.
Parrikar was speaking at a session on Shipbuilding, Ship Repair and Ship Breaking at the Maritime India Summit 2016 here. He said that the maritime sector is crucial from the defense point of view.
“Defense ministry will extend all possible support to the shipping industry,” Parrikar said.
He said that the defense ministry is process to sign MoU with shipping ministry to device ways to help ship yards in the country. “Till now, the defense ministry did not rope in the shipping sector in defense projects, since the orders could not be met in time due to financial constraints of shipping sector. The main objective of the MoU is to ensure that defense orders given to private shipyards are met in time,” Parrikar said.
With a new approach, the defense ministry aims to be instrumental in generating millions of jobs in the maritime sector over next couple of years. Parrikar said that government is proactively working to exploit the vast coast line having infinite opportunities.
Ship repair is one of the focus areas, wherein defense ministry is willing to outsource naval repairs to help in growth, Parrikar added.
Narendra Singh Tomar, Minister of steel and mines said, “Government is taking all steps to help shipping industry. Steel and shipping industries are complementary to each other. More the ship building, more would be the demand for steel. It will help steel industry also in a big way.”