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Home Investment

Invest: Norwegian invited to join maritime sector

Fiinews by Fiinews
June 15, 2025
in Investment
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Minister Sonowal witnesses GRSE-Kongsberg MoU signing for build a vessel.

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GRSE-Kongsberg sign MoU to build PRV

Minister of Ports, Shipping and Waterways Sarbananda Sonowal has invited Norwegian shipowners to invest in India’s growing maritime sector during a roundtable with the Norwegian Shipowners’ Association (NSA) in Oslo on 3 June https://www.rederi.no/en/.

Speaking at the Roundtable held by NSA in Oslo, Sonowal highlighted, “India’s maritime sector is on a transformative path, driven by sustainability, innovation, and global partnerships https://shipmin.gov.in/.

“We invite greater collaboration with Norway to build a green, smart and resilient maritime ecosystem. With major investments in green ports, alternative fuels like green hydrogen, and strategic incentives, India aims to become a global leader in shipbuilding https://www.bseindia.com/.

“Our growing partnership with Norway — reflected in Indian shipyards delivering next-gen vessels to Norwegian firms — showcases India’s emergence as a trusted, future-ready hub for cost-effective and sustainable maritime solutions. Let’s strengthen this momentum together,” Sonowal said https://www.nseindia.com/.

During the meeting, Sonowal highlighted key areas for India-Norway maritime collaboration, pointing out that the Indian shipyards currently hold 11% of the NSA’s order book.

He urged for further expansion of orders, including leveraging India’s ship-breaking credit note scheme. Emphasising India’s robust seafaring workforce—ranked second in NSA’s global fleet—he called for broader recruitment partnerships.

He also underlined the significant investment opportunities available under India’s flagship Sagarmala programme and the US$2.9 billion Maritime Development Fund, offering incentives across shipbuilding, ports, and logistics https://www.makeinindia.com/home/.

Sonowal also welcomed a pact for Indian and Norwegian ship builders to build a vessel equipped with the latest scientific equipment, enabling researchers to explore the oceans’ depths, study marine ecosystems, and unlock new insights into planet’s past, present and future.

The Polar Research Vessel (PVR) is to be build under an MoU signed by Kolkata-based Garden Reach Shipbuilders and Engineers Limited (GRSE) and Norway’s Kongsberg Oslo on 3 June.

The MoU paves the way for India to build it first ever PVR indigenously.

Sonowal said, “Let this MoU signing be a beacon of hope and progress, signalling India’s unwavering commitment to scientific advancement and sustainable development https://sbi.com.in/.

“Together, we are building not just a vessel but a legacy—a legacy of innovation, exploration, and international cooperation that will inspire generations to come.

“This MoU is a commitment to fostering scientific discovery, advancing India’s capabilities in polar and ocean research, and contributing to global efforts to address pressing challenges like climate change.”

The MoU between GRSE and Knogsberg marks an important milestone for India’s shipbuilding sector as it will receive design expertise for developing the PRV, while taking into account the requirement of National Centre for Polar and Ocean Research (NCOPR), which will use it for research activities in the Polar and Southern Ocean realms.

GRSE, which has built maritime platforms like warships as well as survey & research vessels, will build the PRV in Kolkata yard.

Sonowal also attended a high-level Ministerial Meeting on the ‘Role of Shipping in Shaping the Future’ https://www.investindia.gov.in/.

The meeting emphasised the need of the industry to align towards a stable, long-term regulatory environment supporting an inclusive and decarbonised ocean-based trade.

Ministers from Brazil, Japan, the US, China, and Norway as well as representatives from the UN, joined Sonowal at the meeting.

Sonowal made a five-day official visit to Norway to participate in Nor-Shipping event as well as to Denmark, with a main aim to further strengthen the maritime relationship with the leaders of the Global Maritime sector. Fiinews.com

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