The government has exempted units operating in the International Financial Services Centre (IFSC) at GIFT City, Gandhinagar, from obtaining licences under Section 11 of the Coastal Shipping Act, 2025 for chartering foreign vessels for EXIM and international trade.
The reform, notified by the Ministry of Ports, Shipping and Waterways, aims to strengthen India’s maritime leasing and financing ecosystem by simplifying regulations and encouraging ship leasing, financing and ownership through GIFT City.