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Infrastructure Today Magazine | Centre initiatives for ship repair industry
Centre initiatives for ship repair industry
May 01, 2015
Government has taken steps to promote ship repair industry in India which include:
Service tax exemption granted by the Central Government for repair of foreign going vessels by Indian shipyards to reduce operational costs of ship repair units.
Government has dispensed with the requirement for registration of ship repair units with Director General (Shipping) in December, 2014 to promote ´Ease of Doing Business´.
Some problems affecting the ship repair industry in India include:
Lack of cheap and long-term financing for ship repair industry as it does not enjoy infrastructure status.
Higher ship repair costs especially for repair of domestic vessels due to prevailing tax regime.
Complex customs bonding processes leading to time delays and increase in cost overruns.
Ship Repair Units
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