New Student Offer - Use Code HELLO

Register Now

GRSE Signs MoU with DEMPO Group

Published on August 29, 2023
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.
GRSE Signs MoU with DEMPO Group
  • 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
ebook store

About us

ramandeep singh

Ramandeep Singh, your guide to banking and insurance exams. With 14 years of experience and 5000+ selections, Ramandeep understands the path to success, having transitioned himself from Dena Bank and SBI. He's passionate about helping you achieve your banking and insurance dreams.

  • Follow me:
Close Menu
Close Menu