IFSC GIFT City units exempted from licensing under Section 11 of the Coastal Shipping Act, 2025
The Ports Ministry announced on 10 July 2026 that units in IFSC GIFT City, Gandhinagar, no longer need a DG Shipping licence under Section 11 of the Coastal Shipping Act, 2025 to charter foreign vessels for EXIM and international trade.
Summary
The Ministry of Ports, Shipping and Waterways announced on 10 July 2026 that units in the International Financial Services Centre (IFSC), GIFT City, Gandhinagar, Gujarat, are exempt from the licensing requirement under Section 11 of the Coastal Shipping Act, 2025. Eligible IFSC units no longer need a licence from the Director General of Shipping to charter foreign vessels for EXIM and international trade operations. The reform aims to make GIFT City a globally competitive hub for maritime leasing, ship financing and ship-owning.
Key facts
- Announced
- 10 July 2026, Ministry of Ports, Shipping and Waterways
- Beneficiaries
- Units in IFSC, GIFT City, Gandhinagar
- Provision
- Section 11, Coastal Shipping Act, 2025
- Effect
- No DG Shipping licence needed to charter foreign vessels for EXIM/international trade
- Aim
- Maritime leasing and ship-financing hub
Practice MCQs 2 questions
IFSC GIFT City units were exempted in July 2026 from the licensing requirement under which section of the Coastal Shipping Act, 2025?
Show answer
Correct answer: C — Section 11
The exemption is from the licensing requirement under Section 11 of the Coastal Shipping Act, 2025 for chartering foreign vessels.
Before the July 2026 exemption, IFSC units needed a licence from which authority to charter foreign vessels under Section 11 of the Coastal Shipping Act, 2025?
Show answer
Correct answer: D — Director General of Shipping
The exemption removes the need for eligible IFSC units to obtain a licence from the Director General of Shipping.