<p data-path-to-node="2" id="p-rc_3de12d0b93c6bcc0-189"><span data-path-to-node="2,0"><b data-path-to-node="2,0" data-index-in-node="0">NEW DELHI</b> — In a major policy push to achieve sovereign tonnage autonomy and stem massive capital flight, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal has detailed a strategic roadmap to induct 100 large commercial merchant vessels into India’s national fleet over the next five years</span><span data-path-to-node="2,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="2,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p><p data-path-to-node="3" id="p-rc_3de12d0b93c6bcc0-190"><span data-path-to-node="3,0">The plan was outlined during the inaugural <i data-path-to-node="3,0" data-index-in-node="43">Sagar Samvad</i> ("Ocean Dialogue") organized by the National Shipping Board (NSB) in New Delhi under the overarching framework of <i data-path-to-node="3,0" data-index-in-node="170">Maritime India Vision 2030</i> and <i data-path-to-node="3,0" data-index-in-node="201">Maritime Amrit Kaal Vision 2047</i></span><span data-path-to-node="3,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="3,2">. The primary objective is to reverse India's extreme dependence on foreign-flagged carriers, which currently drains an estimated $75 billion annually in foreign freight charter bills</span><span data-path-to-node="3,3"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="3,4">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p><p data-path-to-node="5"><b data-path-to-node="5" data-index-in-node="0">Addressing the 16–20% Cost Competitiveness Disadvantage</b></p><p data-path-to-node="6" id="p-rc_3de12d0b93c6bcc0-191"><span data-path-to-node="6,0">India’s merchant fleet currently stands at roughly 1,600 seagoing vessels, carrying less than 10% of the country’s total Export-Import (EXIM) cargo</span><span data-path-to-node="6,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="6,2">. During the deliberations, industry leaders and policymakers highlighted that operating under the Indian flag remains 16% to 20% costlier than operating under foreign flags of convenience</span><span data-path-to-node="6,3"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="6,4">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p><p data-path-to-node="7">This structural cost gap stems from:</p><ul data-path-to-node="8"><li><p data-path-to-node="8,0,0" id="p-rc_3de12d0b93c6bcc0-192"><span data-path-to-node="8,0,0,0"><b data-path-to-node="8,0,0,0" data-index-in-node="0">Taxation Disadvantages:</b> Heavy taxes on vessel acquisition imports, local dry-dock maintenance, and withholding taxes deducted at source on Indian seafarers’ wages</span><span data-path-to-node="8,0,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="8,0,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="8,1,0" id="p-rc_3de12d0b93c6bcc0-193"><span data-path-to-node="8,1,0,0"><b data-path-to-node="8,1,0,0" data-index-in-node="0">High Domestic Financing Costs:</b> Capital borrowing rates that significantly exceed the low-interest maritime credit lines available to overseas carrier consortia</span><span data-path-to-node="8,1,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="8,1,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="8,2,0" id="p-rc_3de12d0b93c6bcc0-194"><span data-path-to-node="8,2,0,0"><b data-path-to-node="8,2,0,0" data-index-in-node="0">Freight Levies:</b> Local goods and services taxes applied to domestic shipping legs that foreign operators routinely bypass</span><span data-path-to-node="8,2,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="8,2,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p></li></ul><p data-path-to-node="9" id="p-rc_3de12d0b93c6bcc0-195"><span data-path-to-node="9,0">Under the current Right of First Refusal (RoFR) framework, domestic vessel operators are expected to match lowest global freight quotes despite carrying these asymmetric tax burdens</span><span data-path-to-node="9,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="9,2">. The NSB presented a five-pillar reform roadmap to the Ministry—encompassing fiscal restructuring, assured long-term cargo support, access to competitive sovereign financing, regulatory streamlining under the re-enacted Merchant Shipping Act, and enhanced Ease of Doing Business (EoDB)</span><span data-path-to-node="9,3"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="9,4">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p><p data-path-to-node="11"><b data-path-to-node="11" data-index-in-node="0">Capitalizing on the ₹69,725-Crore Maritime Framework</b></p><p data-path-to-node="12" id="p-rc_3de12d0b93c6bcc0-196"><span data-path-to-node="12,0">Minister Sonowal emphasized that the 100-vessel acquisition target integrates directly into the Union Government's broader ₹69,725-crore maritime revitalization package</span><span data-path-to-node="12,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="12,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p><p data-path-to-node="13">Key financial and industrial pillars backing the fleet buildout include:</p><ul data-path-to-node="14"><li><p data-path-to-node="14,0,0" id="p-rc_3de12d0b93c6bcc0-197"><span data-path-to-node="14,0,0,0"><b data-path-to-node="14,0,0,0" data-index-in-node="0">₹25,000-Crore Maritime Development Fund (MDF):</b> Designed to provide flexible, long-term, low-cost debt financing and sovereign-backed equity for commercial vessel acquisitions</span><span data-path-to-node="14,0,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="14,0,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="14,1,0" id="p-rc_3de12d0b93c6bcc0-198"><span data-path-to-node="14,1,0,0"><b data-path-to-node="14,1,0,0" data-index-in-node="0">₹24,736-Crore Shipbuilding Financial Assistance Scheme (SBFAS):</b> Extended through 2036 to subsidize baseline construction costs and make Indian shipyards commercially competitive against East Asian shipbuilders</span><span data-path-to-node="14,1,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="14,1,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="14,2,0" id="p-rc_3de12d0b93c6bcc0-199"><span data-path-to-node="14,2,0,0"><b data-path-to-node="14,2,0,0" data-index-in-node="0">Bharat Container Shipping Line (BCSL):</b> Aggregating state-owned enterprise (PSU) cargo demand to anchor stable shipping rotations across crude oil, LNG, fertilizer, coal, and container corridors</span><span data-path-to-node="14,2,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="14,2,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p></li><li><p data-path-to-node="14,3,0" id="p-rc_3de12d0b93c6bcc0-200"><span data-path-to-node="14,3,0,0"><b data-path-to-node="14,3,0,0" data-index-in-node="0">Indigenous Container Manufacturing:</b> Complementing the vessel push with the ₹10,000-crore container production scheme, which has already seen global ocean liners like Maersk placing orders for Indian-built boxes</span><span data-path-to-node="14,3,0,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="14,3,0,2">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p></li></ul><p data-path-to-node="16"><b data-path-to-node="16" data-index-in-node="0">Seafarer Workforce Expansion and Port Integration</b></p><p data-path-to-node="17" id="p-rc_3de12d0b93c6bcc0-201"><span data-path-to-node="17,0">Also addressing the conclave, Union Minister of Labour &amp; Employment Mansukh Mandaviya stressed the necessity of pairing fleet expansion with maritime workforce skilling</span><span data-path-to-node="17,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="17,2">. The government aims to scale India’s aggregate share of the global seafaring workforce from 12% to over 20% by 2030, rolling out specialized training curricula for green-propulsion vessels, cruise liners, and advanced naval architecture</span><span data-path-to-node="17,3"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="17,4">.</span><sources-carousel-inline ng-version="0.0.0-PLACEHOLDER" _nghost-ng-c652880515=""><!----></sources-carousel-inline></p><p data-path-to-node="18" id="p-rc_3de12d0b93c6bcc0-202"><span data-path-to-node="18,0">Minister Sonowal concluded by noting that as India quadruples its overall commercial port handling capacity toward 10,000 million tonnes per annum by 2047, expanding the domestic flag fleet ensures that Indian shipowners capture the value of national economic growth rather than watching domestic trade sail past on foreign decks</span><span data-path-to-node="18,1"><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><source-footnote _nghost-ng-c4109436689="" class="ng-star-inserted"><sup _ngcontent-ng-c4109436689="" class="superscript"><!----></sup></source-footnote><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----><!----></span><span data-path-to-node="18,2">.</span></p>