New Delhi, Feb 18 (UNI) In a big step to promote the 'Make in India' initiative and incentivize ship building activity in the country, the Ministry of Shipping has revised its guidelines for chartering of ships by providing Right of First Refusal to ships built in India.
Henceforth, whenever a tendering process is undertaken to charter a vessel, a bidder offering a ship built in India will be given the first priority to match the L1 quote. It is expected that this priority given to ships built in India will raise the demand for such vessels, providing them with additional market access and business support.
A policy in this regard will be launched by Minister for Shipping, Road Transport & Highways, Water Resources, River Development and Ganga Rejuvenation Nitin Gadkari in Mumbai on Tuesday during the inauguration of the two day Regional Maritime Safety Conference.