India has unveiled an ambitious plan to invest ₹85,000 crore (approximately $10 billion) to build a fleet of 112 crude oil tankers by 2040.
In the first phase of the project, the government intends to purchase 79 ships, 30 of which will be medium-range carriers. The first batch of 10 tankers is expected to be ordered later this month. Only ships constructed in Indian shipyards will be considered for procurement, even if they are built in partnership with...