Coal news and updates

Ship building industry growing at 20% y-o-y

March 17: The Indian shipbuilding industry, which includes both war ships and merchant navy ships, is growing at 20% year-on-year and offers immense scope for local ancillary units, Rear Admiral (retd) A K Verma, CMD of Garden Reach Shipbuilders & Engineers Ltd (GRSE), said.

"The industry is growing at the rate of 20% per annum. There is huge scope for ancillary units in the eastern region to take advantage of this growth," he said.

He also urged the domestic industry to tap the opportunities being offered in defence procurement. "The defence sector is a recession-proof industry. The domestic small and medium enterprises should tap this sector," he said at a recent conference in Kolkata.