the salient features of India’s shipping policy for the promotion of national shipping to increase self-reliance in the carriage of the country’s overseas trade and protection of stakeholders interest in EXIM trade?
the salient features of India’s shipping policy for the promotion of national shipping to increase self-reliance in the carriage of the country’s overseas trade and protection of stakeholders interest in EXIM trade?
MINISTER OF SHIPPING (SHRI G.K. VASAN)
The Government has been taking various steps from time to time for the growth of Indian
tonnage. These include:-
(i) In order to create level playing field for the Indian Shipping Companies with
their global counter parts, the Government has introduced Tonnage Tax regime in India since
the year 2004. Further, the liberalized policy on ship acquisition has been introduced and
acquisition of all types of ships has been brought under Open General License (OGL). Besides,
100% FDI has been permitted in ship acquisition and registration formalities of newly acquired
ships have been simplified.
(ii) The Government of India has formulated the National Maritime Development
Programme (NMDP). It is a comprehensive programme aimed at various issues that need to be addressed to bring holistic growth in the Indian Shipping Industry. Under the NMDP,
Shipping Corporation of India, the only Public Sector Shipping Company is in the process of
acquiring a total of 76 new vessels with a total outlay of approximately Rs.15,000 crores, to
be completed in phases till 2015. Of these, 22 ships have already been delivered and orders
have been placed for construction of another 30 vessels.