The Ministry of Ports, Shipping and Waterways (MoPSW) on July 08, 2026, issued notification on License Exemption for Foreign Vessels in GIFT City.
The Central Government, under the Coastal Shipping Act, 2025, has granted an exemption to foreign vessels chartered by units operating in the International Financial Services Centre (IFSC) at GIFT City, Gandhinagar. These vessels are not required to obtain a license under section 11 of the Act.
This exemption aims to facilitate ease of operations for IFSC-based units. The term International Financial Services Centre (IFSC) is defined as per the provisions of the International Financial Services Centres Authority Act, 2019.
[S.O. 3690(E)]
