The Indian government has extended the scheme for promotion of ship flagging in India by another five years, continuing efforts to increase the number of Indian-flagged vessels and strengthen the country’s maritime sector.
The scheme provides financial support to Indian shipping companies operating under the national flag, aimed at improving the competitiveness of Indian-registered vessels in global trade and reducing dependence on foreign-flagged ships.
Officials said the extension aligns with the government’s broader maritime development strategy focused on enhancing domestic shipping capacity, supporting coastal and overseas trade, and promoting self-reliance in the shipping sector.
Industry stakeholders noted that Indian-flagged vessels often face higher operating costs compared to foreign competitors due to taxation, regulatory, and financing challenges. The continuation of the support scheme is expected to encourage more shipowners to register vessels under the Indian flag.
The move is also seen as important for strengthening India’s strategic maritime capabilities, improving cargo security, and supporting long-term growth in ship ownership and fleet expansion.
Shipping industry representatives welcomed the extension, stating that stable policy support will help attract investments in vessel acquisition and support the government’s vision of building a stronger domestic maritime ecosystem.