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India Today
26-05-2025
- Business
- India Today
How India's plan to build 112 crude oil tankers is a bold move for energy security, self-reliance
When the Indian government unveiled its Rs 85,000 crore ($10 billion) plan to build 112 crude oil tankers domestically, it marked a bold foray into industrial renewal, strategic autonomy and maritime ambition. Announced as part of the broader Make in India push, the plan aims to sharply reduce the country's dependence on foreign-owned vessels to transport its most vital import: crude numbers are striking. India imports more than 85 per cent of its crude oil, yet over 95 per cent of it is ferried by foreign-owned ships. The state-run Shipping Corporation of India (SCI) and a few private operators maintain a limited fleet of tankers—most of them old, foreign-built and increasingly uneconomical to run. As India's refining capacity is projected to expand from 250 million tonnes to 450 million tonnes by 2030, the gap between energy demand and logistical sovereignty has become response, the government is embarking on a generational project. The first 10 tankers are expected to be ordered shortly. By 2047, the centenary of Indian independence, the goal is for 69 per cent of the country's crude oil fleet to be both Indian-built and Indian-owned. That target, reported in internal planning documents and quoted in the media, reflects a sharp alignment with the government's Viksit Bharat vision. But beyond the strategic clarity lies a hard question: can India build a globally competitive shipping industry from the ground up—on time and on budget?THE CHINESE SHADOWS To understand the scale of the challenge, one must look east. The global shipbuilding industry is almost entirely monopolised by three countries—China, South Korea and Japan—which together account for over 90 per cent of all commercial ship deliveries. These nations don't just build ships; they command the entire ecosystem: design, materials, propulsion systems, financing and post-delivery servicing. China alone built more than 1,000 ships in 2023 and is doubling down on dual-fuel, low-emission designs that will soon be global regulatory comparison, Indian yards, as such as Cochin Shipyard, L&T's Kattupalli facility and Mazagon Dock, have limited experience with large crude tankers. Most lack the dry-dock depth, assembly automation and robotic welding infrastructure needed to build Very Large Crude Carriers (VLCCs) at scale. Building one or two prototypes is possible; building over 100 over two decades is a different Indian shipbuilders are still heavily reliant on imported components: marine-grade steel, turbocharged diesel engines, navigation electronics, and even anchor chains. Much of this is sourced from Chinese suppliers or from Western firms embedded in Chinese supply chains. Unless India establishes a parallel industrial base for marine components—possibly through targeted Production Linked Incentive (PLI) schemes—the ships built here may be 'assembled' rather than truly 'made' in there's the matter of cost. Indian-built tankers are expected to be 15-25 per cent more expensive than those from China or South Korea. For cash-conscious oil refiners such as Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Limited (HPCL) or Reliance, that cost differential is significant. The government is reportedly working on freight subsidies, tax incentives and guaranteed long-term contracts to make Indian-built vessels commercially viable. Without these, shipyards may build tankers that find no STRATEGIC WATERSYet the rationale behind this initiative isn't just economic—it's strategic. India's experience with global freight volatility during the Covid-19 pandemic, the Suez and Red Sea disruptions and tensions in the Strait of Hormuz has underscored a stark truth: logistics is leverage. For a country that depends so heavily on imported oil, not owning the ships that carry it is a structural government's plan attempts to plug this gap while also reviving the long-dormant commercial shipbuilding sector. If executed well, the project could create 150,000 to 200,000 skilled jobs and catalyse downstream industries worth Rs 2-3 lakh crore. The larger objective is to build a marine industrial ecosystem that spans shipyards, ports, steel plants, electronic component makers and logistics is, in theory, room to leverage emerging international partnerships. Japan and South Korea, though competitors in shipbuilding, have expressed interest in collaborating on marine technology and skill development under Indo-Pacific cooperation frameworks. The UAE and Saudi Arabia, India's largest crude suppliers, may be willing to co-finance Indian-built tankers or underwrite long-term leases, ensuring steady demand. The India-Middle East-Europe Economic Corridor (IMEEC) and QUAD maritime initiatives offer further possibilities for technology transfers and export credit the window may be narrow. China is already transitioning to green shipping technologies—methanol-fueled engines, autonomous navigation systems and carbon-neutral supply chains. Korea is investing in mega yards that produce LNG (liquefied natural gas) and hydrogen-powered ships. India must not only catch up—it must leap key risk is execution drift. For this initiative to succeed, India must move beyond procurement headlines and lay the foundation for a modern, resilient and innovation-driven shipbuilding sector. That means building deeper dry docks, introducing robotic production lines, integrating design software from global leaders, and creating world-class training academies for naval architects and marine important is financing. Building a ship is only half the battle—operating and maintaining it profitably requires a mature shipping finance ecosystem. India lacks a dedicated maritime financing institution, unlike Korea's Exim-backed ship lease model or Japan's structured maritime investment banks. Without accessible, low-interest capital and sovereign-backed guarantees, Indian ship-owners may still prefer the low-risk route of foreign FOR SWADESHI FLEETIf India's $10 billion crude tanker programme succeeds, it will mark the return of a strategic capability that was allowed to languish for decades. It would restore confidence in Indian manufacturing, provide maritime muscle to the country's energy security policy, and signal to the world that India is ready to shape—rather than merely sail through—global trade government has launched a shipbuilding renaissance anchored in strategic partnerships and industrial ecosystem building. South Korean shipbuilding giants such as HD Hyundai are investing in Indian infrastructure, including a Rs 10,000 crore mega shipyard in Tamil Nadu, poised to build large crude tankers with cutting-edge technology. Hanwha Ocean is also exploring collaborations, while Japan offers expertise in precision engineering and green technologies through attractive policy alliances bring technology transfer, specialised skill development and capital investments that can help Indian shipyards leapfrog initial hurdles. Additionally, states such as Tamil Nadu, Gujarat, and Maharashtra are emerging as maritime industrial hubs, leveraging coastal infrastructure and pro-industry success depends on converting ambition into engineering capability, policy intent into industrial ecosystems, and geopolitical alignment into technological partnerships. It means creating deep dry docks, robotic welding lines, and world-class naval architecture institutes. It means expanding domestic manufacturing of marine-grade steel, engines, and electronics, reducing costly must also innovate in green shipbuilding, embracing LNG and hydrogen-powered vessels to meet global emission norms. The growing demand for eco-friendly shipping offers an opportunity to future-proof the fleet and capture emerging the same time, developing a robust maritime financing ecosystem is critical. Government-backed maritime investment banks, low-interest credit lines, and long-term charter contracts will be vital to make Indian-built tankers commercially viable and attractive to crude oil tanker initiative is not just about ships—it is about reclaiming control over the physical architecture of its 21st-century economic sovereignty. It is about ensuring that the oil powering India's growth moves not just across oceans, but under the executed with discipline, innovation and strategic foresight, this flagship initiative will revive a dormant shipbuilding sector, create hundreds of thousands of skilled jobs, reduce external vulnerabilities and add a new dimension to India's energy road ahead is fraught with challenges, but the prize—a modern, self-reliant and resilient maritime fleet—could transform India's place in the global energy and shipping order. The question is not just whether India can build these tankers, but whether it can build the vision, partnerships and ecosystems to sustain this fleet through decades of turbulent now, the government has launched its shipbuilding renaissance with confidence. Whether this fleet will sail or be stranded in the dry docks of missed potential will depend on what comes to India Today Magazine
Time of India
21-05-2025
- Business
- Time of India
India plans massive $10 billion purchase of ‘over 100 Make in India' crude oil tankers
India is gearing up to ramp up its energy security, acquiring a fleet of crude carriers instead of relying on foreign-owned vessels. Currently, state-owned oil companies rely on an ageing fleet, with most vessels leased from international shipping firms. Now, the petroleum and shipping ministries want to transform that with a focus on ownership, control and localisation of tanker construction. The plan is expected to roll out in phases, starting with the purchase of 79 ships, of which, 30 will be medium-range carriers. The first order, for 10 tankers, is expected to be issued later this month. The country is planning to buy 112 crude oil tankers,with a massive investment of Rs 85,000 crore (approximately $10 billion) in a long term plan spanning till 2040, as per sources cited by Bloomberg. Notably, the contract will only consider ships that are built locally, even if they are in collaboration with a foreign firm. Despite international efforts to transition away from fossil fuels, India is ramping up its refining capacity to meet rising energy needs. The country plans to increase capacity from the current 250 million tonnes to 450 million tonnes annually by 2030, driven by domestic and export demand for petroleum products. India, world's third largest importer of oil, has only 5% Indian-built tankers on the nation's fleet. The government aims to lift this to 7% by 2030 and a significant 69% by 2047, the year India aims to become a fully developed nation. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hans India
29-04-2025
- Business
- Hans India
Pearl Kapur Launches Xanfi at IIT Delhi: First Made-in-India Free Multilingual Gen AI Chatbot supporting 100+ Languages
In a groundbreaking move set to redefine the future of AI in India and beyond, India's youngest billionaire Pearl Kapur has officially launched Xanfi at IIT Delhi and breaks the trend. As of 2025, Pearl Kapur's net worth is estimated to be around $1.1 billion. Xanfi is a revolutionary Gen AI-powered chatbot and conversational engine built to assist, create, and communicate in real time across 100+ languages, including 22 official Indian languages. At a time when most of India's tech ecosystem is focused on building delivery and commerce apps, Xanfi marks a paradigm shift — delivering intelligence instead of logistics, and offering real-time AI-powered assistance across 100+ languages, including all 22 official Indian languages. 'While the ecosystem is busy building food and grocery delivery apps, we are delivering intelligence, creativity, and knowledge,' said[Pearl Kapur, the visionary founder behind Xanfi. 'India is ready to lead the global AI race, and Xanfi is just the beginning.' Xanfi is a Gen AI-powered chatbot and conversational engine that provides real time answers to any question,generate content. Xanfi supports 100+ languages. It helps you with everything from writing blog posts and analyzing markets, to exploring astrology, understanding legal concepts, offering relationship advice, and generating stunning Xanfi Ghibli-style AI art. A Turning Point for Indian Startups Xanfi's launch is more than a product announcement — it's a cultural shift. It signals the arrival of Indian-built, world-class AI technology that's inclusive, intelligent, and accessible to all. This bold leap is also a message: India's next wave of unicorns won't just deliver food — they'll deliver the future. Start your journey with Xanfi today at Xanfi is the country's first multilingual Gen AI chatbot, Made in India, designed to seamlessly integrate artificial intelligence into everyday life. Whether it's answering complex questions, writing high-quality blog posts, analyzing financial markets, offering legal or astrological insights, giving relationship advice, or generating stunning Ghibli-style AI art, Xanfi does it all — instantly and is owned by Zedgo 365 Technologies Private Limited , and Promoter is Pearl Kapur . Xanfi is more than just a chatbot — it's your creative partner, advisor, and digital assistant, the visionary entrepreneur behind the Xanfi launch. 'We built Xanfi to empower users across India and the world, breaking language and accessibility barriers with one powerful AI.' While everyone's building delivery apps, we're delivering intelligence,' said [Pearl Kapur], the visionary behind Xanfi. 'India is ready for the next leap — and Xanfi is our step into a smarter, AI-powered future.' Key Features of Xanfi: Real-Time Responses across all types of questions and domains Multi-Domain Intelligence: Content creation, market analysis, legal insights, astrology, relationship guidance & more 100+ Language Support, including all 22 official Indian languages AI Art Generation in whimsical Xanfi Ghibli style Affordable Access: Free Xanfi is designed to offer a truly human-like AI experience. Whether you're a student, creator, business owner, or just curious — Xanfi brings AI closer to you. What Makes Xanfi Revolutionary and better than ChatGPT ,Deepseek or Grok: Real-Time Answers across domains — content, finance, law, astrology, relationships & more Multilingual Power: 100+ languages supported, including 22 Indian languages Creative Capabilities: Xanfi Ghibli-style AI art generation, blog writing, caption crafting, etc. Xanfi is specially trained with a rich Indian datasets that includes Indian languages ,cultural nuances ,legal terms,regional sentiments,astrology knowledge ,and ChatGPT ,which is built on a global dataset ,Xanfi understands and responds more accurately to Indian-specific queries as compared to ChatGPT and Xanfi works globally with support of 80+ foreign languages. Xanfi is owned by Zedgo 365 Technologies Private Limited , and promoter is Pearl Kapur. As of 2025 , Pearl Kapur's net worth stands at $1.1 billion. Affordable for Everyone: Free Made in India, for the World Unlike other AI Chatbots like ChatGPT ,that are either too expensive While platforms like ChatGPT Plus are priced around ₹1650/month, or limited in scope, Xanfi combines versatility, creativity, and inclusivity in one sleek interface — accessible on web and mobile for free.
