A non-banking financing company is in development under the Sagarmala initiative to support the shipping and shipbuilding sectors. The proposal, led by the Shipping Ministry, is awaiting approval from the Finance Ministry and RBI. Expected to be operational by December 2024, the NBFC aims to address funding challenges faced by maritime companies and shipyards.
India seen as one of the year’s fastest-growing destinations for cargo ships and trade 05 Feb 2023India is seeing an ever greater number of box ships visiting its shores, and as the fastest-growing major economy in the world, this is necessitating the construction of larger ports. India’s GDP has been forecast by the International Monetary…
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