Policy support, tax measures in pipeline to power maritime growth : Sonowal
NEW DELHI : Union Minister for Ports, Shipping and Waterways Shri Sarbananda Sonowal has said that the government is “actively exploring” tax and policy interventions to further strengthen India’s maritime sector. The move comes in addition to the recently approved ₹70,000 crore package aimed at boosting shipbuilding and allied industries, which is expected to provide a major thrust to the country’s maritime growth.
Highlighting the government’s focus on making India a global maritime hub, Sonowal said that supportive fiscal and policy frameworks will be critical in driving investments, enhancing competitiveness, and accelerating the modernization of shipbuilding and shipping infrastructure. He stressed that India’s vast coastline, growing trade volumes, and rising global demand for shipping services present immense opportunities that require a robust policy push.
The ₹70,000 crore package, cleared by the Cabinet last month, is designed to encourage domestic shipbuilding, create employment, and promote allied industries such as marine equipment manufacturing and port services. Industry stakeholders believe that additional tax incentives and regulatory support could further reduce operational costs, attract private players, and help India capture a larger share of the global shipbuilding market.
Sonowal underlined that the government’s approach is in line with the vision of Atmanirbhar Bharat, with an emphasis on strengthening self-reliance in maritime capabilities while also contributing to India’s export competitiveness.
Sonowal said the government is closely reviewing industry proposals for fiscal support to enhance the competitiveness of the sector. Key areas under consideration include reforms in vessel registration, tax relief for Maintenance, Repair and Overhaul (MRO) services, rationalisation of Tax Deducted at Source (TDS) for maritime professionals, and incentives for domestic manufacturing of marine-grade steel.
He further highlighted growing international interest in India’s maritime opportunities. “There is strong interest from East Asia and Europe, including global shipbuilders, engine and propulsion majors, and specialised system suppliers in next-generation fuels such as LNG, methanol, and ammonia. Several of these discussions are already at the Expression of Interest stage,” the minister noted.