FIRING ON ALL CYLINDERS

With a vision to become a global defence exporter and achieve 'Navratna' status by 2030, Garden Reach Shipbuilders & Engineers is undergoing a major transformation.

- MANOJ SHARMA

“IT’S NOT the strongest of the species that survives, nor the most intelligent, but the most responsive to change,” Commodore (Retd.) P.R. Hari quotes Charles Darwin as he encapsulates the philosophy of Garden Reach Shipbuilders & Engineers Ltd (GRSE).

The Kolkata-based defence shipyard, which traces its genesis back to 1884, has embodied this evolutionary principle in its transformation from a conventional warship builder for the Indian Navy into what its chairman and MD describes as “a modern, competitive player” with global aspirations. “GRSE's transformation from a conventional defence PSU (DPSU) warship builder to an agile, innovation-led shipbuilder is driven by a vision to achieve global recognition, technological excellence, and sustainability,” Hari tells Fortune India.

The DPSU’s goals align with the ‘Make in India’ initiative and reducing dependency on imported components. “GRSE has developed robust in-house capabilities to design and build advanced warships, reducing its reliance on foreign technology. It has achieved over 90% [of] indigenous content in recent deliveries,” Hari says, adding that the company has invested in modern facilities to boost production efficiency and capacity.

With more than 93% of its revenue coming from warships, GRSE has built a formidable reputation as a key defence player in India.

With an eye on the coveted ‘Navratna’ PSU status by 2030, the company is getting ready to navigate deeper, more competitive waters in the maritime defence sector. “The roadmap for GRSE 2.0 reflects a strategic pivot towards diversification into commercial shipbuilding while retaining our core expertise in warship building, and integrating emerging technologies such as AI, automation, and smart naval systems,” Hari said during an analysts’ and brokers’ meeting on February 13.