In order to achieve the objective of Atmanirbhar Bharat, the Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved a scheme to provide Rs.1624 crore over five years as a subsidy to Indian Shipping companies in global tenders floated by Ministries and CPSEs for the import of government cargo in the following manner:
- For a ship that is flagged in India after 1st February 2021 and is less than 10 years at the time of flagging in India, the subsidy support would be extended @15%...