GIFT City is moving closer to becoming a globally competitive hub for ship leasing and maritime finance after the government eased key regulatory requirements for International Financial Services Centre (IFSC) units.
In July, the government exempted eligible GIFT IFSC units from the licensing requirement under Section 11 of the Coastal Shipping Act, 2025 when chartering foreign vessels for export-import and international trade operations. The move is aimed at simplifying compliance and improving the ease of doing business for maritime leasing and financing companies.
The reform removes an additional regulatory layer for ship-leasing businesses that use foreign-flagged vessels, strengthening GIFT City’s proposition as an international maritime services centre.
Stronger Ship Leasing Framework
The International Financial Services Centres Authority (IFSCA) already has a dedicated framework governing ship leasing activities in GIFT IFSC. The framework permits registered finance companies and finance units to undertake activities covering operating and financial leases and other maritime financing structures.
The latest licensing exemption complements these financial-sector provisions by addressing an operational requirement associated with chartering vessels for international trade.
Boost to Maritime Finance
GIFT City is seeking to replicate the success of established international financial centres by bringing ship financing, leasing and related services within India’s regulatory and financial ecosystem.
The government has identified maritime leasing and financing as an important component of its broader strategy to develop GIFT City as a global maritime services hub. The July reform was specifically described by the government as a measure to strengthen India’s maritime leasing and financing ecosystem and promote ease of doing business.
The development also comes as activity across GIFT IFSC’s wider financial ecosystem accelerates. Indian banks operating through International Banking Units at GIFT City sanctioned $54.02 billion under the RBI’s FCNR(B) swap facility by August 31, 2026, with $52.82 billion already disbursed.
Growing Global Ambition
For shipowners, lessors and financial institutions, the combination of a dedicated ship-leasing framework and fewer operational licensing requirements could make GIFT IFSC more attractive for structuring international maritime assets.
The government’s latest measures indicate that GIFT City is increasingly being positioned not only as a financial centre but also as a platform for ship leasing, maritime finance and other international shipping-related services.