April 24, 2023
Numerous top ship leasing companies have made a hasty move to set up shop in the modern financial hub known as the Gujarat International Finance Tec-City (GIFT City), which is quickly becoming a hotbed for the shipping industry. Due to its strategic location and world-class infrastructure, the city in the western Indian state of Gujarat has emerged as a preferred destination for the maritime industry.
In GIFT City, some of the most prominent ship leasing companies have already established themselves. APEX Group, AK Shipping, GMS, Bernhard Schulte Shipmanagement, and others are among these. GIFT City has become a major player in the global ship leasing industry as a result of the presence of these businesses.
One reason why GIFT City is drawing in transport renting organizations is the result of its phenomenal network. Mundra, Kandla, and Pipavav, which are among the busiest ports in the nation, are close to the city’s location. Because of this, it is an excellent location for businesses that Want to Invest in the Indian maritime industry and lease ships to Indian shipping companies.
The availability of world-class infrastructure is another factor driving the expansion of the ship leasing industry in GIFT City. The city has been planned to be a cutting-edge financial center with cutting-edge amenities and facilities comparable to the best in the world. As a result, it has become a popular location for businesses looking to establish operations in India.
In addition to its modern infrastructure and strategic location, GIFT City provides a number of incentives to businesses that establish operations there. Benefits from taxes, streamlined regulatory procedures, and a favorable business environment are examples of these. The city’s ship leasing industry has grown as a result of these factors’ contribution to the creation of a favorable ecosystem.
In general, GIFT City is developing into a significant player in the global ship leasing sector. With its essential area, top-notch foundation, and positive business climate, it is drawing in probably the greatest names in the business. It is likely that the city will become an even more significant player in the global maritime industry as it continues to grow and expand.
In 2021, the IFSCA formed an expert committee to produce a study on Ship Acquisition, Financing, and Leasing (SAFAL). Last August, the authorities developed a framework for ship leasing based on the recommendations in the report.
Previously, the IFSCA had made a similar intervention in GIFT City to promote aircraft ownership and leasing.
