IFSCA Seeks Approval for Foreign Ships at GIFT City

16 Nov 2023 CW Team

The International Financial Services Centres Authority (IFSCA) has reportedly requested approval to allow foreign-flagged ships to operate from the Gujarat International Finance Tech-City (GIFT City). This move is aimed at enhancing the maritime and shipping activities within the International Financial Services Centre (IFSC) at GIFT City, aligning with India's broader efforts to develop its maritime infrastructure and promote financial services.

IFSCA, the regulatory body for IFSCs in India, is seeking consent from the Ministry of Shipping to permit foreign vessels to operate from GIFT City. If approved, this initiative could bring several advantages, including increased maritime trade, improved connectivity, and the potential establishment of GIFT City as a comprehensive financial and maritime hub.

The integration of maritime and financial services is anticipated to attract global shipping companies and promote a conducive environment for maritime trade within the IFSC at GIFT City. This aligns with the vision of positioning GIFT City as a prominent global financial hub.

GIFT City, situated near Gandhinagar, Gujarat, is India's first operational smart city and serves as a dedicated financial and technological hub. The inclusion of maritime services within this ecosystem could further elevate its status and contribute to India's goal of enhancing its maritime infrastructure and connectivity.

The potential approval to allow foreign-flagged ships to operate from GIFT City aligns with the government's broader initiatives to boost trade, facilitate ease of doing business, and position India as a prominent player in the global financial and maritime sectors. The move reflects the synergies between the financial and maritime domains, creating new opportunities for international trade and commerce.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..