The Centre has exempted GIFT City-based International Financial Services Centre entities from obtaining DGMA licences to lease foreign vessels. The move under the Coastal Shipping Act, 2025 aims to ease vessel chartering and strengthen India's maritime and international financial services ecosystem
Prime Minister Narendra Modi highlighted India’s dependence on foreign nations as its biggest challenge, advocating self-reliance in sectors from semiconductor chips to shipping. He announced major reforms and investment plans to strengthen India’s maritime industry and overall economic independence
