Government of India

Scheme for Promotion of Flagging of Merchant Ships in India

The Finance Minister Smt. Nirmala Sitharaman has announced a scheme to promote flagging of merchant ships in India by providing Rs. 1624 crore as subsidy support to Indian Shipping Companies in global tender floated by Ministries and CPSEs. This scheme approved by the cabinet on 14.07.2021 and scheme details have circulated to all Ministries for their implementation.

S.NO. On Overseas Trade No of Ships
1 Total Number of Vessels as on 14.07.2021 449
2 Number of Vessels added (from 15.07.2021 to 30.11.2021) 12
3 Total Number of Vessels as on 30.11.2021 461

S.NO. Financial Details Amount in Rs. Crore
1 Total Amount allocated under this scheme for 5 years Rs. 1624
2 Total Expenditure upto 31.12.2021 NIL
3 Total Number of Vessels as on 30.11.2021 Rs. 1624