India and Korea has recently signed an Inter-Governmental MOU for Defence Industry Co-Operation in Shipbuilding. Hindustan Shipyard Limited (HSL), Visakhapatnam from the Indian side is nominated for the collaboration. The co-operation with the recommended Korean Shipyard would enable HSL to upgrade and modernise its facilities and execute naval shipbuilding projects in a timely and cost effective manner. HSL would be able to imbibe best practices in shipbuilding leading to effective project management. Moreover, the MoU will help in the ‘Make in India’ initiative.
