Govt Boosts Indian Shipping with New Leasing Entity

26 Jul 2024 CW Team

The central government's planned ship owning and leasing entity will gain significant advantages from the proposed permits for companies with a variable capital company structure, as outlined in the Union Budget 2024-25. This initiative will also enhance ship owning and leasing activities within the Gujarat International Finance Tec-City (GIFT City).

Union Ports, Shipping, and Waterways Minister Sarbananda Sonowal emphasized the impact of these reforms: "Ownership, leasing, and flagging reforms will be implemented to improve the share of the Indian shipping industry and generate more employment."

The share of overseas cargo carried by Indian flagged ships has dramatically declined from over 40% in the 1980s to less than 7% today. The new measures aim to reverse this trend by introducing flexible financing models and offering incentives for ship-leasing companies.

"Measures announced in the budget will allow companies to take advantage of the GIFT International Financial Services Centre (IFSC) dispensation," a top government official stated. The IFSC Authority recognized ship leasing as a financial product in January 2022, and by 2023, it expanded to include ship brokering and voyage charter-related services.

Leasing ships from the IFSC brings several benefits, including liberal policies, tax advantages, and the benefits of operating within a deemed foreign jurisdiction.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..