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
Stock to watch
Shipping Corporation and G E Shipping
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