Indian shipbuilders exploring Middle East

DUBAI - The decision of the Indian government to provide a 30 per cent subsidy to Indian shipbuilders on orders for ocean-going vessels is spurring competitiveness and encouraging shipbuilders to explore new markets, especially in the Middle East.

By A Staff Reporter

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Published: Mon 5 Apr 2004, 12:06 PM

Last updated: Thu 2 Apr 2015, 11:34 AM

The Indian participation in the second edition of Gulf Maritime, to be held from April 19 to 21 at Expo Centre Sharjah, has almost doubled compared to the show's first edition, according to the organisers of the show.

Major Indian shipbuilders such as ABG Shipyards, Bharati Shipyards, Chowgule & Company Ltd and Mech Marine have confirmed their participation, in addition to maritime companies such as Hitech Elastomers Ltd and IRM Offshore & Marine Engrs from India.

"The Middle East maritime industry has been growing at a remarkable rate, with orders for new ships and vessels continually on the rise. Participating in the coming Gulf Maritime exhibition is a good move on the part of the Indian shipbuilders, who can hope to take back with them some of these new orders," said Fasahat Ali Khan, deputy director-general of Expo Centre Sharjah.

He said in the face of stricter environment rules and regulations being enforced in Europe and elsewhere for the maritime industry, India enjoys a strategic advantage when it comes to ship building and repairing, because of a favourable location, low labour costs and abundant supply of skilled manpower.

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