The Union Minister for Shipping, Road Transport & Highways, Water Resources, River Development & Ganga Rejuvenation Nitin Gadkari and Kerala Chief Minister Pinarayi Vijayan laid the foundation for India’s largest Dry Dock at Cochin Shipyard in Kerala.
The Dry Dock will give an impetus to “Make in India” initiative under Sagarmala and raise India’s share in global shipbuilding to 2%. India currently occupies 0.66 % share in global shipbuilding market. The commercial shipbuilding industry in India is worth Rs. 3,200 Crore and focuses primarily on small-medium sized offshore vessels and cargo/bulk carriers.