India: Marine/ Shipping

India's maritime sector is undergoing a transformative shift with a USD 7 billion government package combining financial incentives, capital subsidies, and comprehensive legal reforms. This creates unprecedented opportunities for foreign engineering firms, institutional investors, and clean-energy technology leaders to participate in joint ventures, technology partnerships, and long-term financing arrangements within India's rapidly modernizing shipbuilding ecosystem.

Maritime commerce is inherently international, asset-driven, and time-sensitive. Ships move across jurisdictions within days, cargo changes hands rapidly, and contractual relationships often involve multiple parties located in different countries.

The International Energy Agency has since described the resulting disruption as the largest to the global oil market in its history. Brent crude hit its peak at USD 126 per barrel in March 2026 and is presently at approximately USD 80, and over 2,000 ships and 20,000 mariners remain stranded in the Persian Gulf.

The Ministry of Mines formally notified the Offshore Areas Mineral (Prevention of Illegal Mining and Transportation) Rules, 2026, on February 3, 2026.

The application of the Customs Act, 1962 is proposed to be extended to international waters/ high seas for the purposes of fishing and fishing related activities by an Indian-flagged fishing vessel.

In its consistent effort to promote cross border trade and ease of doing business, the Reserve Bank of India (‘RBI') initially floated the draft export and import regulations and directions on 2 July 2024...

As a part of enhancing the ease of doing business and for providing greater flexibility to exporters and importers, the Reserve Bank of India (‘RBI') proposes to rationalise the export and import regulations.

GST (Goods and Services Tax) on transport services plays a crucial role in the way businesses and consumers interact with logistics and freight charges in India.

The recent passage of the Carriage of Goods by Sea Bill, 2024, by India's Lok Sabha marks a significant advancement in the nation's maritime legislative framework.