New Delhi - Acting swiftly on a Budget announcement, the Ministry of Ports, Shipping and Waterways plan to free Indian entities from taking a license from India’s maritime regulator while chartering foreign flag ships stipulated by the Merchant Shipping Act on the condition that the foreign ships so hired do not enter or operate in Indian waters during the charter period.

The move follows a demand brought by the International Financial Services Centres Authority (IFSCA) to ease the local shipping law as it looks to offer more sops to entice ship operators to the Gujarat International Finance . . .