Terming the revamp of shipping sector as a high-priority agenda for 2016, Union Minister for Shipping Nitin Gadkari said the new ship building policy will also give a major boost to the government's 'Make In India' initiative while the country's vast coastline will see major development projects.
“Ship building has a huge employment multiplier and the new comprehensive policy, which has been approved by the Cabinet, will generate manufacturing-led employment,” said Gadkari.
"We have scrapped about 20 archaic laws which had no relevance today and would weed out more such obsolete provisions," he added. The industry has for long been complaining some 'biased' taxation and operational issues that have been hurting the interest of Indian shipping companies, including for import of goods and purchase of ships.


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