Interorient Navigation and Danship to infuse INR 10,000 cr, marking India’s largest shipping sector FDI since 2005.
Cyprus-based Interorient Navigation, in partnership with Danship & Partners, has announced a Foreign Direct Investment (FDI) of INR 10,000 crore in the Indian shipping sector. This marks the largest FDI in the sector since India opened it to 100% foreign investment in 2005.
The announcement comes shortly after Indian Prime Minister Narendra Modi’s historic state visit to Cyprus on June 15, the first in over two decades. During discussions with Cyprus President Nikos Christodoulides, maritime cooperation was a key focus, reinforcing the bilateral Indo-Cyprus Maritime Cooperation Framework.
This strategic investment will boost India’s shipping tonnage by registering all vessels under the Indian flag. It is expected to create substantial employment for Indian seafarers, retain freight revenues within the country, and enhance maritime infrastructure under initiatives like Maritime India Vision 2030 and Sagarmala.
The move aligns with India’s Atmanirbhar Bharat roadmap and supports its ‘Amrit Kaal Vision 2047’.
Source: PR
