India will emerge as next hub of ship-building industry: Vasan

Kochi: Union Minister G K Vasan today claimed  India would be the “next hub” of ship-building industry among the emerging economies, though the industry is still reeling under the global economic slowdown. “A robust ship-building industry is a vital component of any strong economy,” Vasan told reporters here. The Union Shipping Minister, while giving examples of USA, western European countries and Japan and South Korean in Asia, stressed that “India would be the next hub of ship-building industry.” When asked if his ministry is looking forward to global orders in the wake of the Cochin Shipyard’s success in building INS Vikrant, India’s first indigenous aircraft carrier, he said the strain on the world economy remains an issue and it is likely to continue for a year. On a positive note, Vasan said that 87 per cent growth was witnessed in tonnage capacity in shipping industry globally which would be helpful for Indian ship manufacturers as well. [caption id=“attachment_1027283” align=“alignleft” width=“380”]  INS Vikrant.[/caption] “We have long term plan for shipping industry,” the minister said, emphasising that Cochin Shipyard Limited has demonstrated its status globally by successfully taking up the challenge of INS Vikrant. CSL’s chairman-cum-managing director Commodore K Subramaniam said his shipyard has redeemed the trust and faith put in it by the government in substantial measure with the launch of INS Vikrant. The indigenous aircraft carrier has enabled India to join the elite club of nations with the capability of designing and building a warship in the over 35,000-tonne class. The launch of warship, which has a length of 260 metres and is 60 metres wide, is behind schedule by three years. It is set to go for extensive trials in 2016 before being inducted into the Navy by 2018 end. Fighter aircraft–Mig-29K, Light Combat Aircraft and Kamov-31 helicopters–will be deployed on board the carrier which will also carry an array of other weapons system. PTI