Budget lays thrust on inland shipping industry

Shipping: Policy to increase India flagged tonnage soon

Budget Provisions

Policy for encouraging the growth of Indian controlled tonnage will be formulated to ensure increase in employment of the Indian seafarers. Positive for ship builders as they are negatively skewed against foreign players. Renewal of shipbuilding subsidy in the new policy would provide the necessary respite to the players
Rs 11,635 crore allocated for the development of Outer Harbour Project in Tuticorin for phase I.
SEZs will be developed in Kandla and JNPT.
Comprehensive policy to be announced to promote Indian ship building industry. Thrust to inland shipping industry and expected to provide support to movement of bulk cargo through coastal and inland waterways

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Shipping Corporation and G E Shipping

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