Shipping Ministry Pushes for Tax Parity to Support Domestic-Flagged Vessels

The Shipping Ministry is pushing for tax parity to support domestic-flagged vessels. This initiative aims to level the playing field between Indian-flagged ships and foreign-flagged vessels operating in India, which currently enjoy certain tax advantages. By advocating for tax parity, the ministry seeks to boost the competitiveness of the domestic shipping industry, encourage investment in Indian shipping, and enhance the nation's maritime capabilities. This move is crucial for promoting the growth of the local shipping fleet and reducing reliance on foreign vessels for India's trade and coastal movement.