GIFT City Emerges as India's Maritime Growth Hub

Union Minister Sarbananda Sonowal declares GIFT City as a pivotal hub for India's maritime advancement during the India Ship Leasing and Financing Summit. The event discussed building a ship leasing ecosystem, unveiled future maritime games, and outlined reforms boosting India's presence in global shipbuilding and shipping.

Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, hailed GIFT City as the fulcrum of India's maritime growth, attending the India Ship Leasing and Financing Summit in Gandhinagar. Organized by the International Financial Services Centres Authority in cooperation with the Ministry of Ports, Shipping, and Waterways, the summit was a melting pot for maritime stakeholders.

The summit aimed at fostering collaboration among policymakers, ship owners, lessors, charterers, and financiers to construct a robust ship ownership, leasing, and financing ecosystem, positioning GIFT City as the epicenter of this enterprise. During the event, Sonowal also launched the brochure for the National Maritime Games 2027, set to occur at Ganpat University, Gujarat.

In his address, Sonowal evoked India's maritime heritage, referencing the Indus Valley Civilisation. He emphasized the strategic importance of GIFT City in promoting a comprehensive maritime value chain ecosystem, inclusive of ship leasing, ownership, financing, insurance, and brokerage services. The Minister highlighted significant vessel leasing milestones and announced reforms enhancing competitive advantage for Indian shipping on the global stage.