Over 50 per cent of ships are currently built in China, with the second-largest economy of the world holding sway over a massive fleet of 6,000 ships. So, how can Quad nations counter China’s dominance in this crucial industry?
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The global shipbuilding industry today is primarily controlled by China, giving Beijing an advantageous position in world trade. Over 50 per cent of ships are currently built in China, with the second-largest economy of the world holding sway over a massive fleet of 6,000 ships.
So, how can Quad nations counter China’s dominance in this crucial industry?
Sanjeev Sanyal, a member of the Economic Advisory Council of the prime minister, Government of India, has said this can change if Quad countries manage to deepen their cooperation to build a serious shipbuilding ecosystem.
While speaking at Firstpost’s IdeasPod as part of the annual Raisina Dialogue organised by Observer Research Foundation (ORF) in partnership with the Ministry of External Affairs (MEA) in New Delhi, Sanyal said US, India, Japan and Australia can co-operate in certain areas to increase efficiency.
Speaking of India, he said, “We have some of the technology, we have the steel, we have the men”. He added that Americans and Japanese certainly have much better-quality engines.
“For example, there are certain areas where we could maybe just build the hulls, hand it to the Americans to get it out in various ways, or the Japanese can put in the software,” Sanyal…
