Union Minister for Shipping Mansukh L Mandaviya. (File photo)
Union Minister for Shipping Mansukh L Mandaviya. (File photo)

Taken steps to promote 'Atmanirbhar Shipping' for 'Atmanirbhar Bharat': Mansukh L Mandaviya

By Amit Kumar | Updated: Oct 22, 2020 14:58 IST

New Delhi [India], October 22 (ANI): In pursuance of 'Make in India' policy of the Central government, the Ministry of Shipping has reviewed the ROFR (Right of First Refusal) licensing conditions for chartering of vessels or ships through a tender process for all types of requirements.
"To promote Indian origin ships, vessels built, flagged and owned by Indians will be given a priority during the chartering of vessels under the amendments in the guidelines of ROFR. The maritime sector should also become self-sufficient under 'Atmanirbhar Bharat'. For the promotion of shipbuilding in the country, we decided to give the first refusal to the Indian companies through 'Make in India'," Mansukh L Mandaviya, Union Shipping Minister told ANI.
Union Shipping Minister further added that if an Indian company has made a ship outside the country, then it shall be given second priority and third priority while if a ship has been made in India, which is foreign-flagged and foreign-owned, it will be given first priority. This will give a boost to the shipbuilding industry in India.
"Today our share is only one per cent in shipbuilding globally and we have set a target of increasing it to three per cent in shipbuilding. We will move forward in this direction," Mandaviya added.
The duration of licence to such chartered vessels shall be limited to the period of the building of the ship, as mentioned in the shipbuilding contract.
It is to be noted that the Ministry of Shipping has made provisions for long-term subsidy for shipbuilding activities under shipbuilding financial assistance policy (2016-2026). The Ministry has already disbursed an amount of Rs 61.05 crores till date under the policy.
It is an endeavour of the Central government to further incentivise shipbuilding by providing additional market access and business support to ships built in India. (ANI)