India to offer incentives to bolster shipbuilding industry

A roll-on-roll-off ship in open seas. Picture: 123RF/kamchai95

This could also include incentives to build small vessels and promote battery-driven small vessels, aiming to cut diesel consumption and carbon emission by ships in the coming years, they said. Details are, however, subject to change as budget consultations are ongoing, the official said, noting the plans had the support of economic advisers of Prime Minister Narendra Modi, who unveiled Maritime Vision-2030 in 2020, aiming to expand domestic shipping and ports capacity.

The cost of ship manufacturing was up to 20% lower in India compared to Indonesia and the Philippines, the panel said, suggesting a review of tax rules. India’s exporters and importers paid nearly $100bn in freight last year, almost double the amount three years ago, FIEO director-general Ajai Sahai said, adding that exports and imports had surged along with freight rates.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Twitter employees are calling Elon Musk's plans to reinstate banned accounts 'the Big Bang' | Business InsiderTwitter staff are skeptical about Elon Musk's plans to reinstate thousands of accounts, which they learned about via Twitter, Platformer reported. BISouthAfrica The leftard wokeist fired disgruntled workers actually know fokol what is going on. elonmusk is in full control! I ask queerily why is so anti-free speech BISouthAfrica ...yah is that so like my account pearlsmiss was banned just bc public relations theempire had voice along with some tweeps above me ...a user exercising my rights my free speech must have many + ...I breaking any law but only bc I was already reporting them 2015 or did they fix
Source: News24 - 🏆 4. / 80 Read more »