New Delhi, July 11 -- The government has introduced a policy change aimed at strengthening the country's maritime services sector and improving its global competitiveness.

Units operating in the International Financial Services Centre (IFSC) at GIFT City, Gandhinagar, have been exempted from the licensing requirement for chartering foreign vessels used in export-import (EXIM) and international trade operations.

The exemption, issued by the Ministry of Ports, Shipping and Waterways (MoPSW) under the Coastal Shipping Act, 2025, removes the need for eligible IFSC units to obtain approval from the Director General of Shipping for such activities.

The move is intended to simplify regulations and create a more business-friendly environment f...