Thyssenkrupp Marine Systems (TKMS), a leading German maritime company, is aiming to capitalize on the potential P75I submarine contract with India to establish a major shipbuilding hub in the country.
The company believes that this hub could significantly reduce the cost of submarine and warship production, potentially by up to 50%, while also creating a global export center for naval vessels.
TKMS, in partnership with Mazagaon Dockyards Limited (MDL), is competing for the P75I contract to manufacture six new diesel-electric submarines for the Indian Navy. However, TKMS sees this as an opportunity to go beyond the immediate contract and create a larger shipbuilding ecosystem in India.
"Together with MDL, there could be a hub for technology, which will generate more orders. This is really an opportunity to go beyond the P75I, which will generate, of course, more jobs," said TKMS CEO Oliver Burkhard.
TKMS is positioning itself as a reliable partner for India, emphasizing its commitment to technology transfer and the full support of the German government. The company believes that this partnership could tap into a rapidly growing global market for naval assets, fueled by recent geopolitical tensions and increased defence spending.
Burkhard highlighted the capacity crisis facing European shipyards due to surging demand and pointed to potential joint export markets in Southeast Asia and South America. He also emphasized the cost advantages of "Make in India," citing lower labor costs compared to Germany.
TKMS faces stiff competition from L&T-Navantia (a Spanish company) for the P75I contract. The final decision is expected soon, with a technical oversight committee report due by the end of January.
However, regardless of the outcome, TKMS appears committed to its vision of establishing a major shipbuilding hub in India, leveraging the country's skilled workforce and manufacturing capabilities to create a global center for naval production.
