India’s state-owned shipbuilder Hindustan Shipyards (HSL), as part of its strategy to expand its international presence, is in talks with the People’s Navy of Vietnam (VPN) for submarine refurbishment projects. Aligning with India’s goal of becoming a major exporter of defense products, the shipyard is exploring opportunities in the Philippines and other Southeast Asian countries.
Based in Visakhapatnam, HSL has a history of supporting the Indian Navy in shipbuilding and submarine repairs. In recent years, it has attracted international business, including refurbishing a US ship in 2021. The shipyard has also provided significant platforms such as India’s first nuclear missile tracking ship ‘INS Dhruv’ ocean surveillance ship and diving support vessels (DSV) for deep sea operations.
In 2024, HSL reported a record turnover of Rs 1,413 crore and a profit of Rs 119 crore, marking a milestone in its growth. Under the leadership of Hemant Khatri (retd), the company is developing a long-term strategic plan to increase production, diversify its offerings and integrate advanced technologies such as AI and robotics. HSL is also contracted to build five fleet support ships with deliveries to begin in 2027.
