India

Govt invites global vessel owners to register ships in India to take advantage of Make in India

Updated : June 20, 2020 05:24 PM IST

The government on Saturday said it has invited global vessel owners to flag their ships in India to take advantage of the Make in India policy.

The government has recently revised its Make in India Policy for public procurement, under which no global tender enquiry will be issued, except with the approval of the competent authority, for the procurement of all services with estimated value of less than Rs 200 crore.

"It is estimated that the Make in India policy will provide an opportunity to at least double the number of Indian flag vessels in the immediate term - from the present approximately 450 to at least 900 and more over a period of 3 years - leaving further scope for additional investment in the Indian flag tonnage," Ministry of Shipping said in a statement.

With a modern maritime administration, continuous supply of trained seafarers, ship management skills already available, ship owners worldwide are invited to now flag their ships in India to take advantage of the Make in India policy in respect of transportation of government cargoes.

Shipping Minister Mansukh Mandaviya has reviewed the readiness of Indian shipping for implementation of the government's Cargo Transportation Policy, the statement said.

Govt invites global vessel owners to register ships in India to take advantage of Make in India

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