Ship leasing activity at GIFT City, Gujarat, has seen explosive growth, with the number of vessels leased or purchased doubling to 30 over the past year. As of October 2025, there are 27 registered ship-leasing entities operating from the International Financial Services Centre (IFSC). This shift marks a strategic relocation of maritime finance to Indian oversight, reducing the industry’s traditional reliance on foreign jurisdictions like Singapore or Europe.
The current fleet includes 13 bulk carriers, five container ships, and a massive 1,50,000 DWT Suezmax crude oil carrier—the single largest vessel leased to date. Of the 30 ships, 17 are Indian-flagged, while others fly the flags of Singapore, Panama, and the Marshall Islands. The value of assets leased has risen to $1.47 billion, supported by a regulator-monitored regime that covers everything from financial and operating leases to sale-and-leaseback transactions.
Despite the momentum, experts note that hurdles remain, particularly regarding regulatory compliance and the import process for Indian-flagged vessels. There is a strong call from stakeholders to notify shipping as an “infrastructure sub-sector” to unlock further financing benefits and to amend SEZ rules that currently require repetitive filings for short-term charters. GIFT IFSC continues to evolve, offering competitive financing and a globally aligned framework that draws interest from major global financiers.