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Economic Survey 2023 said that the shipbuilding industry could contribute more to the national GDP through the industry and services sectors.

The Economic Survey 2023, which came out on Tuesday, said that the strategic shipbuilding industry, which is important for energy security, national defence, and the growth of the heavy engineering industry, has the potential to increase its and the services sector’s share of the national GDP.

“The shipbuilding industry has the potential to strengthen the goal of an Atmanirbhar Bharat because it has so many direct and indirect links with other major industries, such as steel, aluminium, electrical machinery and equipment, etc., and because it depends so much on infrastructure and services,” it said.

It said that the Indian Navy shipbuilding projects that are going on at different Indian shipyards will give the industry the boost it needs.

“With the goal of achieving strategic independence in shipbuilding and developing niche technology, as of now, more than 130 IN warships have been built at Indian shipyards, and 41 of 43 ships and submarines are being built at various public and private sector Indian shipyards,” the report said. It also said that these initiatives are helping the country’s economy grow and create jobs in different ways.

The Economic Survey also said that shipbuilding, which is linked to other industries like steel, engineering equipment, port infrastructure, trade, and shipping services, has the potential to create a collaborative production eco-system.

“It is important to note that about 65% of the value added to a ship comes from the companies that make the materials, equipment, and systems that go on board,” it said.

It said that shipbuilding can create a lot of jobs in remote, coastal, and rural areas, taking the place of people who leave farming to work in manufacturing facilities set up by shipyards and their related industries.

“For example, the recently launched INS Vikrant employed about 500 MSMEs, 12,000 people in related industries, and 2,000 people in shipyards,” it said.

A Navy study on the building of seven P17A ships shows that about three-quarters of the total cost of building warships is put back into the Indian economy.

“This investment is put back into the economy through local sourcing of raw materials, development of equipment and systems installed onboard ships, and other manpower services,” it said.

It said that a shipping and shipbuilding industry that is based in the country can also cut freight costs and foreign exchange outflows, lowering the current account deficit.


Hi, my name is Nisha and I'm an educational journalist based in India. I've always been passionate about the power of education to transform lives, and that's what led me to pursue a career in journalism focused on this area. I completed my Bachelor's degree in English from Hindu College in Delhi in 2013 and then went on to earn my Master's in Journalism and Mass Communication from the Indian Institute of Mass Communication in 2017. During my studies, I also completed several short-term courses on Education in India, Sociology, and other related subjects to deepen my knowledge in this field. I'm particularly interested in improving access to quality education in rural areas, where students often face significant challenges. I've worked on a number of initiatives to address this issue, including advocating for better policies, resources, and practices that can make a difference. As an educational journalist, I'm passionate about using my platform to highlight important issues in the education space. I've covered a wide range of topics, including the impact of technology in the classroom, innovative approaches to teaching and learning, and the challenges facing students from marginalized communities. One of the things I love most about my work is the opportunity to constantly learn and grow. I'm an avid reader and believe that reading is key to expanding one's knowledge and perspective. I'm always seeking out new ideas and insights to help me better understand the world around me. In summary, as an educational journalist, I'm dedicated to using my skills and expertise to make a positive impact in the field of education. I'm committed to improving access to quality education for all students and to using my platform to raise awareness about important issues in this area.

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