CARGOCONNECT-AUGUST2024 - Flipbook - Page 25
BUDGET 2024-25 : FOCUS
In a first, India is pushing for major reforms
in the shipping sector. The Budget outlined the
government9s intention to go ahead with implementing ship ownership, leasing, and nagging reforms
to improve the share of the Indian shipping industry
and generate more employment. A simpler tax regime
on foreign cruise ships operating out of India has also
been proposed with there being a concerted efort
to boost cruise tourism in the country.
