Shipowners worldwide invited to flag their ships in India to take advantage of Make in India policy

The Shipping Ministry has invited ship owners worldwide to flag their ships in India to take advantage of the Make in India policy. Government has recently revised its Make in India Policy for public procurement, among others, of all services. Under the revised policy, no global tender enquiry shall be issued, except with the approval of the Competent Authority, for procurement of all services with estimated value of purchases less than 200 crore rupees.

Shipping Minister Mansukh Mandaviya reviewed the readiness of Indian shipping Industry for implementation of the Government’s Cargo Transportation Policy. It is estimated that the Make in India policy will provide 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.