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Context: The Union Cabinet chaired by the Prime Minister Modi approved a subsidy scheme for shipping companies during global tenders for import of government cargo.
About Scheme for Promotion of Flagging of Merchant Ships
For a ship which is flagged in India after 1st February, 2021 and is less than 10 years at the time of flagging in India:
For a ship which is flagged in India after 1st February, 2021 and which is between 10 to 20 years old at the time of flagging in India:
For existing Indian flagged ship which is already flagged and less than 10 years old on 1st February 2021:
For existing Indian flagged ship which already flagged and between 10 to 20 years old on 1st February 2021:
Significance of the scheme
India’s shipping industry
By: Shubham Tiwari ProfileResourcesReport error
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