CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Indian Coast Guard (ICG) and Hindalco Industries, a leading industry group, have partnered to boost the production and supply of indigenous marine-grade aluminium for ship construction. The relationship, which was formalized by a Memorandum of Understanding (MoU), intends to increase India's self-reliance in the shipbuilding industry.
Facilitating Coastal Security And Shallow Water Operations
The ICG fleet now consists of 67 ships with aluminum hulls suited for use in shallow waters. To strengthen coastal security, the Coast Guard intends to induct additional of these vessels, which will be built with locally manufactured marine-grade aluminum.
Benefits Of The MOU
According to the conditions of the MoU, Hindalco Industries would manufacture and supply marine-grade aluminium to Indian public and private shipyards for shipbuilding.
Quarterly pricing- Facilitating better planning and cost management for shipyards.
Priority in supplies- Ensuring timely delivery of aluminium for construction projects.
Turnover discount- Incentivizing the use of indigenous marine-grade aluminium.
Promoting Indigenous Manufacturing
The collaboration between the Indian Coast Guard and Hindalco Industries is consistent with the government's emphasis on self-reliance and the 'Make in India' initiative. By using domestically produced marine-grade aluminum, the shipbuilding industry can minimize its reliance on imports while also contributing to the growth of the domestic manufacturing sector.
Enhancing Coastal Security Capabilities
The addition of more aluminium-hulled vessels to the ICG fleet will greatly improve the Coast Guard's capabilities to monitor and defend India's extensive coastline. These vessels' shallow draft capabilities make them excellent for operations in coastal areas, estuaries, and inland waterways, thereby strengthening the nation's maritime security.
Strengthening Industry-Government Partnerships
The Memorandum of Understanding between the Indian Coast Guard and Hindalco Industries shows the value of industry-government collaboration in promoting self-reliance and technical growth. Such collaborations not only benefit indigenous manufacturing, but also help to India's overall goal of improving maritime capabilities and coastal security infrastructure.
Senior leaders from both organizations observed the signing of the MoU, demonstrating their commitment to this strategic collaboration and its potential to shape India's shipbuilding industry and marine security environment.
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