Gadkari Plans To Bring Shipbuilding Under MSME

The country's shipbuilding industry has a lot of promise, especially in terms of exports, according to Nitin Gadkari, the Union Minister for Road Transport and Highways.

The economic survey said that shipbuilding has one of the highest employment multipliers and is capable of generating mass employment in remote, coastal and rural areas.

Identifying the shipbuilding industry as a strategically important industry due to its role in energy security, national defence, and the development of the heavy engineering industry, the Economic Survey 2022-23 noted that it has the potential to increase the contribution of the industry and the services sector to the national GDP.

The sector has a lot of potential, the minister remarked, "The one thing holding it back is finance. I'm doing everything I can to put this sector under the umbrella of Micro, Small, and Medium Enterprises (MSME). This will bring much-needed assistance to the sector." He stated that with many European countries, like Sweden and Denmark, increasing cruise tourism, the shipbuilders have a fantastic potential.

Praising the Cochin Shipyard Limited's (CSL) accomplishments, he shared, “A lot of people who trained at CSL are now working with major ports around the world, particularly in Dubai and Abu Dhabi. It should be emphasized that the majority of these persons working at foreign ports are Keralites. As a result, it can be observed that the sector's development has a high potential for employment, development, and enjoyment, all of which contribute to the growth of our economy.”

With its immense direct and indirect linkages with most other leading industries and its huge dependence on the infrastructure and services sectors of the economy, the shipbuilding industry has the potential to strengthen the mission of an ‘Aatmanirbhar Bharat’.