New Delhi, July 8 — Two prominent Cyprus-based companies, Interorient Navigation Co Ltd and Danship & Partners Ltd, have announced a landmark investment of Rs. 10,000 crore in India’s shipping industry. This is the largest foreign direct investment (FDI) in the Indian shipping sector since it was opened to 100 percent FDI in 2005.
According to a joint statement by the firms, the ships acquired under this initiative will be registered under the Indian flag. This move is expected to significantly boost India’s national shipping tonnage. Additionally, all freight earnings from Indian trade routes conducted through these vessels will remain within the Indian economy, thereby supporting domestic revenues and strengthening the country’s maritime ecosystem.