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While global shipping is in turmoil, Indian industry seems to be coping quite well, it seems
Nov 02: This is not the best of times for the global shipping industry but the industry in India seems to be growing, and companies have new and old vessels to their fleet.
8The was also  largely incentivised by the following:  A reduction in goods and services tax from 18% to 5% on bunker fuel used by Indian flag vessels, providing cargo support to the Indian shipping industry through the right of  first refusal, allowing shipping enterprises based in India to acquire ships abroad and flag them in the country of their convenience, and the removal of licensing requirements for the chartering of foreign-registered ships to encourage the coastal movement of agriculture and other commodities.
8But when it comes to acquiring new vessels, Indian shippers will have to keep in mind future trends
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