International Financial Services Centres Authority (IFSCA) has constituted a committee to examine global best practices in ship financing and leasing. This Committee will also identify opportunities and devise a roadmap to enable such activities. The committee will be chaired by former Senior Economic Advisor, Vandana Aggarwal.
India is strategically located on the world’s shipping routes and has a large coastline of over seven thousand 500 kilometres. India also has 12 major and over 200 minor ports. According to the Ministry of Shipping, 95 per cent of India’s trading by volume and 70 per cent by value is done through maritime transport.
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