Move aims to boost GIFT City ship leasing and ease global trade operations.

Govt to Relax Licensing Norms for Foreign Ships Chartered by Indian Firms for Overseas Runs.

The Union government has decided to ease licensing requirements for Indian entities chartering foreign-flagged ships exclusively for overseas operations that do not involve Indian ports. A gazette notification will be issued shortly by the Ministry of Ports, Shipping and Waterways, according to officials. Currently, Indian entities must obtain a licence from the Director General of Maritime Administration even if the chartered vessel operates entirely outside India. The relaxation follows sustained representations from the International Financial Services Centres Authority, which has sought policy changes to attract ship-leasing firms to GIFT City. Industry participants had criticised the Coastal Shipping Act, 2025, arguing that licensing for international cross-trade and EXIM cargo movements between foreign ports hampers global competitiveness. The government said licences were earlier required to ensure safety compliance and accountability under global maritime conventions. However, by exempting purely overseas runs, the move is expected to simplify chartering, reduce transaction delays, and improve India’s attractiveness as a global maritime and commodity trading hub.