TransportationIMPROVEApproved
India notified rules easing foreign-flag ship leasing/ownership via GIFT City units
Gandhinagar, Gujarat1 Aug 2026
The Ministry of Ports, Shipping and Waterways approved and notified regulatory changes enabling units in GIFT City’s IFSC to (1) lease foreign-flag ships without a permit under Section 11 of the Coastal Shipping Act, 2025 (July), and (2) own and register ships under a foreign flag with relaxed Indian Controlled Tonnage (ICT) scheme conditions (August), via a Gazette notification tied to the Merchant Shipping (Registration of Vessels) Rules, 2026 under the Merchant Shipping Act, 2025.
Why it matters
The changes remove regulatory steps and relax conditions for GIFT City-based ship leasing/owning structures, intended to support maritime finance and ship leasing activity through the IFSC.
Ministry of Ports, Shipping and WaterwaysGujarat International Finance Tec-City (GIFT City)