Centre Waives Coastal Shipping Licence for Foreign Vessels Chartered by GIFT City IFSC Units
July 09, 2026
New Delhi: The Central Government has given major relief to the units established in the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat, by exempting them from the requirement to obtain a licence for foreign vessels taken on charter.
As per the notification issued by the Ministry of Ports, Shipping and Waterways on 7 July 2026, this exemption has been granted under Section 37 of the Coastal Shipping Act, 2025. Under this, foreign vessels taken on charter by any entity established in the IFSC of GIFT City will not be required to obtain a licence under Section 11 of the Act.
This decision of the government is expected to boost maritime finance, ship leasing and related international businesses operating in GIFT City. Also, simplifying the chartering process for foreign vessels will help India’s IFSCs become more competitive in the global maritime financial services sector. DeshGujarat
Recent Stories
- X user booked for fake news claiming Harsh Sanghavi will replace Bhupendra Patel as Gujarat CM
- INS Mangrol: New Anti-Submarine Warship of Indian Navy Named After Gujarat’s Coastal Town
- ICG Ship Meera Behn Decommissioned at Okha After Over Two Decades of Service
- Fake Medicine Sales: Gujarat FDCA Traces Supply Chain from Lucknow to Ahmedabad
- Five Highway Dhabas, Eateries in Gandhinagar Get Notices for Hygiene Lapses
- Ahmedabad to Get 10 Modern Foot Overbridges with Lifts