India wants to become a worldwide hub for ship ownership, leasing and maritime finance.
Gujarat International Finance Tec-City is the key platform for building this financial system.
Reforms include easing licensing for foreign vessels and allowing Indian firms to own foreign‑flag ships.
A 25,000‑crore‑rupee Maritime Development Fund and a shipbuilding assistance scheme of over 24,000 crore rupees support growth.
38 ship‑leasing companies, 41 banks providing about 60 million U.S. dollars, and leadership in ship recycling show strong progress.
Gujarat International Finance Tec-City will act as the main centre for ship‑related money services.
The government is adding big funds and new rules to help Indian companies own more ships, even foreign‑flagged ones.
More banks are lending money, and the country is also the biggest recycler of old ships.
Want to learn even more? Click here to read the full story!