India Exempts IFSC Units from Licensing for Chartering Foreign Vessels
The Government of India has exempted units in the International Financial Services Centre (IFSC), GIFT City, from licensing requirements for chartering foreign vessels for Exim and international trade operations. This exemption, effective immediately, is part of the Coastal Shipping Act, 2025. It aims to enhance India's maritime services ecosystem and attract global investment, positioning GIFT City as a competitive maritime leasing and financing hub. While the licensing requirement is removed, existing regulations governing coastal trade and the cabotage regime remain unchanged. The initiative is expected to simplify the regulatory framework and support the growth of maritime finance, ship leasing, and other related services in India.
Published 1 day ago • 10 Jul 2026, 08:54 PM IST