Indian flags for 300 foreign ships by '30

THE GOVERNMENT EXPECTS around 300 foreign-owned ships to be re-registered under the Indian flag by 2030, to expand the domestic fleet and lower logistics costs, official sources told FE.

- YARUQHULLAH KHAN

"The process to re-flag around 50 vessels has started and is expected to be completed in the next 3 months," officials said. They added that nearly 11 global shipping majors have conveyed their intent to shift part of their fleets to the Indian registry, indicating rising confidence in the country's maritime framework and regulatory predictability.

Officials explained that re-flagging, which means changing the nationality of a vessel so that it falls under Indian maritime law, will allow the ships to be added to India's registry and enable them to transport domestic cargo. According to them, the move is expected to help boost exports and make logistics more affordable, particularly for smaller exporters, over the next three years. “As a result, greater resilience in the supply chain is ensured during disruptions, and freight revenues are kept within the country,” officials said.