Jan 22: Mangal Analytics and Research Consulting (MARC), India’s premier business growth and transaction advisory firm, signed a Memorandum of Understanding (MoU) with Buoyancy Consultants, a global marine engineering and design firm headquartered in Goa, delivering cutting-edge ship and offshore solutions that combine precision engineering with sustainability. To create an integrated ship‑design and market‑research platform aimed at positioning India’s shipbuilding and maritime industries as strategic, investible sectors for Foreign Direct Investment (FDI). The MoU was signed by Managing Director at Mangal Analytics and Research Consulting (MARC), Ashutosh Kharangate and Buoyancy Consultants, CEO, Mr. Prasad Prabhakar Sawant.
“India’s coastal heritage and rapidly expanding maritime infrastructure present a unique opportunity to attract global capital,” said Ashutosh Kharangate. “Through this collaboration with Buoyancy, we bring together end‑to‑end ship‑design expertise and rigorous market intelligence to showcase the sector’s true market size, value‑creation potential, and return on investment.”
Prasad Prabhakar Sawant, CEO, Buoyancy Consultants shared: “This MoU is more than a partnership, it’s a convergence of strengths. At Buoyancy Consultants, our niche lies in advanced ship design and green-tech integration, while MARC brings unmatched global outreach and market intelligence. Together, we aim to create a future full of possibilities for India’s maritime sector, where innovation meets investment, and ideas transform into world-class vessels and infrastructure.”
The signing ceremony took place at Buoyancy Consultants office in Panaji and was attended by Mr. Ashutosh Kharangate, Mr. Prasad Sawant and Mr. Suraj Mahajan from Buoyancy Consultants.
The global shipbuilding market is projected to expand from USD 150.4 billion in 2024 to USD 203.8 billion by 2033 (CAGR 3.4%). India’s ambition is to secure a 5-7% share of this market over the next decade. The MARC‑Buoyancy partnership aims to:
- Engage sovereign wealth funds and strategic investors in Europe, Japan, and the Middle East through tailored joint‑venture frameworks and curated deal pipelines.
- Develop decarbonization strategies and lifecycle‑emissions models for LNG‑powered vessels, hydrogen ferries, and waste‑to‑energy ships, catering to ESG‑focused capital.
- Leverage the digital shipyard opportunity (forecast to grow at 22.1% CAGR by 2030) by integrating advanced CAD/CAM/CAE and production‑optimization tools, enhancing cost‑efficiency and time‑to‑market.
- Provide comprehensive investment theses, combining market sizing, sub‑sector segmentation (commercial shipyards, offshore services, green shipping), and financial modeling, to capture surging demand for custom vessels, port upgrades, and marine‑tech solutions by 2035.
In the 2025 Union Budget, the Ministry of Ports, Shipping & Waterways introduced a revamped Shipbuilding Financial Assistance Policy, establishing a INR 25,000 crore Maritime Development Fund, extent Basic Customs Duty exemptions on shipbuilding inputs for ten more years, and launched the ‘Green Tug Transition’ and ‘Harit Nauka’ sustainability programs. These measures, alongside standardized tug designs and strengthened “Right of First Refusal” rules, are designed to broaden India’s shipbuilding clusters, boost indigenous manufacturing, and attract new FDI into new‑build, retrofit, brownfield, and greenfield projects.
Under this MoU, Buoyancy Consultants naval architect’s & marine‐engineering design team will ensure every vessel design and retrofit proposal remains on budget and on schedule, while MARC’s research division will highlight the most attractive investment opportunities and guide investors on leveraging government incentives. Together, they will remove uncertainty from the decision‑making process, empowering global stakeholders to participate confidently in India’s shipbuilding boom.
