India–Korea maritime cooperation gained further momentum in Busan as Union Minister for Ports, Shipping and Waterways SarbanandaSonowal combined an investment pitch to Korean suppliers with a call for more effective international regulatory cooperation.     At a World Maritime Day ministerial roundtable, Sonowal said global maritime standards should remain ambitious and universal, while implementation arrangements recognise differences in development, technological readiness and access to finance.     He cited the principle of common but differentiated responsibilities and respective capabilities, arguing that cooperation should enable every country to meet shared objectives.     “The objective should therefore be common standards and outcomes, supported by cooperation that enables every Member State to implement them effectively,” he said.     The discussion included International Maritime Organization Secretary-General Arsenio Dominguez and ministerial representatives from South Korea, Norway and Cyprus. Former South Korean oceans and fisheries minister Moon Seong-hyeok chaired the session.     Sonowal proposed practical partnerships between countries with experience implementing maritime conventions and those still developing the necessary institutions.     Joint working groups could support the training of surveyors and inspectors, preparation of domestic legislation and development of implementation schedules. He emphasised that assistance should create lasting national expertise.     His remarks placed regulatory cooperation in the context of geopolitical instability, piracy and disruption in the Red Sea, highlighting the importance of maritime conventions for seafarer protection and dependable trade.     Setting out India’s progress, the minister said five maritime laws enacted in 2025 had taken effect in March 2026. He also said India’s Maritime Single Window covered 69 ports and terminals, while 115 recycling facilities at Alang-Sosiya complied with the Hong Kong Convention.     In a separate meeting with the Korea Marine Equipment Association, or KOMEA, Sonowal sought investment in the machinery and systems required by Indian shipyards.     He identified engines, propulsion equipment, deck machinery, electrical systems and navigation technology as areas where local manufacturing could expand. Much of this high-value equipment is currently imported, he said.     The minister presented joint ventures, licensing arrangements and independently owned factories as possible routes for Korean companies to establish an Indian presence. He said the ministry would assist firms seeking to enter the market.     Founded in 1980, KOMEA represents 304 businesses spanning marine equipment, design, shipbuilding and repair. Its membership includes HD Hyundai, Hanwha Ocean and Samsung Heavy Industries.     KOMEA plans to open its first Indian office in Mumbai on 30 October, creating a local platform for engagement with shipyards, suppliers and prospective partners.     The initiative forms part of the wider cooperation pursued under VOYAGES, the bilateral framework covering shipbuilding, shipping and maritime logistics.

KOMEA had previously offered cooperation in vessel design, yard modernisation, technology transfer, education and domestic production of marine equipment and spares.     Association chairmanHo-il Kang said member companies had begun preparing to enter India within the next two years. Representatives from SB Sunbo, Daeyang, KASEMEC and JO Engineering were among those discussing potential investment.     These discussions indicate industry interest, although the announcement did not identify completed investment commitments or factory commissioning schedules.     Sonowal pointed to India’s approximately $7.8 billion shipbuilding package approved in September 2025 as evidence of policy support for the sector.     He reported year-on-year shipbuilding output growth of 40% in 2025 and more than 80% in 2026. The figures were presented without a detailed breakdown of the measurement basis or the 2026 reporting period.     The minister said the pipeline receiving direct government assistance comprised more than 120 vessels worth over $1.27 billion, with export orders accounting for over 80% of the value.     Separately, the ministry has aggregated prospective government demand exceeding 400 vessels, valued at approximately $23 billion over ten years. This provides potential order visibility rather than confirmation that all contracts have been awarded.    

For Korean suppliers, the opportunity lies in serving both new vessel construction and India’s developing marine equipment ecosystem. Converting that opportunity into production will require commercial agreements, technology arrangements and dependable demand from participating shipyards.