Shipowners worldwide invited to flag their ships in India to take advantage of Make in India policy

The Shipping Ministry today invited ship owners worldwide to flag their ships in India to take advantage of the Make in India policy. The Union Government has recently revised its Make in India Policy for public procurement, among others, of all services.

They are being invited to the country with an availability of a modern maritime administration, continuous supply of trained seafarers and ship management skills.

Under the revised policy, no global tender enquiry shall be issued, except with the approval of the Competent Authority, for procurement of all services with an estimated value of purchases less than Rs 200 crore.

Shipping Minister Mansukh Mandaviya reviewed the readiness of Indian shipping industry for implementation of the Government's Cargo Transportation Policy. It is estimated that the Make in India policy will provide an opportunity to at least double the number of Indian flag vessels in the immediate term - from the present approximately 450 to at least 900 and a period of 3 years. It leaves further scope for additional investment in the Indian flag tonnage.