New Delhi, July 10 -- The Centre has exempted eligible units operating from the International Financial Services Centre (IFSC) at GIFT City from the requirement of obtaining a licence to charter foreign vessels for exports, imports and international trade operations, in a move aimed at boosting maritime leasing and financing activities in India.

The Ministry of Ports, Shipping and Waterways, in a notification issued under the Coastal Shipping Act, 2025, said the exemption removes the requirement for eligible IFSC units to obtain a licence from the Director General of Shipping under Section 11 of the Act for chartering foreign vessels for such operations.

According to the notification, the reform is expected to "strengthen GIFT City as a...