GRSE Signs MoU with DEMPO Group

Current Context: GRSE (Garden Reach Shipbuilders and Engineers) is a Kolkata-based warship builder that has signed an MoU (Memorandum of Understanding) with DEMPO Group, a leading business house of Goa, to build commercial vessels in three shipyards of DEMPO at Goa and Bhavnagar.

• This is GRSE’s first extensive effort to venture into commercial shipbuilding, after pioneering public-private partnerships in the warship building sector in India.
• The collaboration aims to diversify GRSE’s portfolio and increase India’s share in the global shipbuilding market, which is currently less than 1%.
• The venture is targeted at both domestic and international markets and comes as India’s shipbuilding industry undergoes transformative changes.
• GRSE hopes to compete with countries such as China, Vietnam, and Turkey, particularly for contracts in European, Middle Eastern, and African markets.
• The location of DEMPO’s shipyards would offer a positional advantage for shifting vessels to these clients compared to competitors in other countries. The MoU was signed on August 25, 2023.

Question:

Q.1 Which business group has GRSE signed an MoU with for building commercial vessels?
a. TATA Group
b. RELIANCE Group
c. ADANI Group
d. DEMPO Group