Budget 2025: Maritime Fund to Boost Trade, Says Leo Charles

7 February, 2025
Source: itln.in

Summary

The Union Budget 2025-26 introduces a ₹25,000 crore Maritime Development Fund (MDF) to strengthen India's shipping sector, enhance port infrastructure, and reduce reliance on foreign vessels. Leo Peter Charles, Founder & Managing Director of Jane Solutions, underscores the significance of this initiative for India's trade competitiveness. He highlights its direct benefits for fisheries and agri-export sectors, ensuring cost-effective global trade and improved coastal connectivity. Strengthening domestic shipbuilding, he notes, will drive down logistics costs while supporting India's ambition to expand its indigenous shipping fleet.
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