Coastal Shipping Act lets GIFT City IFSC charter foreign ships
Business
Big update from GIFT City, Gandhinagar: IFSC units there no longer need special licenses to charter foreign ships for international trade.
The Ministry of Ports, Shipping and Waterways rolled out this change under the new Coastal Shipping Act of 2025, aiming to make shipping operations smoother and more flexible.
GIFT City to draw ship investors
By cutting red tape, GIFT City is set to become a hotspot for ship leasing and maritime finance.
This move should attract more global investors looking to own or lease ships from India.
It's all part of India's bigger plan to turn GIFT City into a major player in international shipping business, while still keeping domestic trade protected under current rules.