Several important steps have been taken to Increase Tonnage Capacity of Shipping Industry: Shri Mansukh Mandaviya

In a reply to a question in Rajya Sabha today the Minister of State for Shipping (I/C) and Chemicals & Fertilizers, Shri Mansukh Mandaviya informed that the tonnage capacity in the country is as per details given below:

(In million tonnes)

The minister informed that in order to increase tonnage capacity of Indian shipping industry, Government has taken a number of steps. These include:-

i. Providing Indian shipping industry cargo support through Right of First Refusal 

ii. Reducing GST from 18% to 5% on bunker fuel used in Indian flag vessels 

iii. Allowing carriage of coastal cargo from one Indian port to another Indian port via foreign ports in Sri Lanka and Bangladesh

iv. Removing licensing requirement for chartering of foreign registered ships by citizens of India, companies incorporated in India and Registered Societies to encourage coastal movement of agriculture and other commodities, fertilizer, EXIM Transshipment Containers and Empty containers

v. Bringing parity in the tax regime of Indian seafarers employed on Indian flag ships vis-à-vis those on foreign flag ships

vi. Allowing shipping enterprises based in India to acquire ships abroad and flag them in the country of their convenience

vii. Allowing use of imported Containers for carrying of domestic cargo and allowing use of locally manufactured or domesticated containers conforming to the specifications from the International Organization (ISO), for transportation of EXIM cargo:

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NB/MS