Government relaxes coastal shipping licensing norms for GIFT City units

The Government has exempted foreign vessels chartered by a unit located in the International Financial Services Centre (IFSC) at GIFT City, Gandhinagar, from obtaining a licence under Section 11 of the Coastal Shipping Act, 2025 for international trade operations.

The exemption removes the requirement for eligible IFSC units to obtain a licence from the Director General of Shipping for chartering foreign vessels for operations. It is aimed at strengthening GIFT City’s position as a hub for maritime leasing, ship financing and related financial services. The reform is expected to encourage maritime leasing, ship ownership, financing and investment through GIFT City, said a government press release.

The notification does not change the existing cabotage regime or rules governing coastal trade, which remain in place.