Brief Overview:
GIFT City IFSC units can now charter foreign vessels without obtaining a license under Section 11 of Coastal Shipping Act, 2025.
Technical Details:
Foreign vessels chartered by any unit set up in the International Financial Services Centre at GIFT City have been exempted by the Central Government from the requirement of obtaining a license under Section 11 of the Coastal Shipping Act, 2025.
JC takeaway:
The exemption removes a key licensing barrier for chartering foreign vessels through entities based in the GIFT City adding to the ease of doing business and incentivising setting up entities at the GIFT City.
For further details, please see: Â
Order-License Exemption for Foreign Vessels Chartered by GIFT City IFSC Units
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