In a significant step towards enhancing India's self-reliance in the shipbuilding sector, the Indian Coast Guard (ICG) and Hindalco Industries, a leading industry group, have inked a Memorandum of Understanding (MoU). The collaboration aims to promote the manufacturing and supply of indigenous marine-grade aluminium for constructing ships, with a focus on bolstering coastal security capabilities.
The ICG, with its fleet of 67 ships featuring aluminium hulls designed for shallow-water operations, has prioritised the induction of more vessels of similar construction to strengthen coastal security measures. The MoU with Hindalco Industries signifies a strategic partnership to ensure a steady supply of marine-grade aluminium for these construction projects.
The Memorandum of Understanding (MoU) between the Indian Coast Guard and Hindalco Industries encompasses several key benefits aimed at fostering indigenous manufacturing and bolstering the shipbuilding sector. One of the primary advantages outlined in the agreement is the introduction of quarterly pricing, facilitating enhanced planning and cost management for shipyards engaged in construction projects.
Additionally, Hindalco Industries has committed to prioritising the supply of marine-grade aluminium to both Indian public and private shipyards, ensuring timely delivery to support ongoing shipbuilding activities. Moreover, shipyards opting for indigenous marine-grade aluminium will enjoy turnover discounts, providing further incentive for the utilisation of domestically manufactured materials and fostering self-reliance in the shipbuilding industry. These benefits underscore the strategic significance of the collaboration in advancing India's maritime capabilities and promoting the 'Make in India' initiative.
The collaboration underscores the government's 'Make in India' initiative and its emphasis on self-reliance. By leveraging domestically produced marine-grade aluminium, the partnership aims to reduce reliance on imports and foster growth in the domestic manufacturing sector.
The addition of more aluminium-hulled vessels to the ICG fleet will significantly enhance its ability to patrol and secure India's extensive coastline. These vessels' shallow draft capabilities make them well-suited for operations in coastal areas, estuaries, and inland waterways, thereby strengthening maritime security measures.
The MoU symbolises the importance of collaborations between industry and government entities in advancing self-reliance and technological innovation. Such partnerships not only support indigenous manufacturing but also contribute to broader objectives of enhancing maritime capabilities and coastal security infrastructure.
The signing of the MoU marks a pivotal moment in India's shipbuilding industry and maritime security landscape. Senior officials from both the Indian Coast Guard and Hindalco Industries have affirmed their commitment to this strategic partnership, highlighting its potential to shape the nation's maritime future.
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