New Delhi, Sept. 22 -- The Ministry of Finance on September 19 announced that Indian-owned and flagged commercial ships with a gross tonnage (GT) of 10,000 and above, or Indian-built, owned, and flagged ships of 1,500 GT or more, will be granted infrastructure status.

The move allows qualifying fleet owners to access long-term, low-cost funding for ship acquisition, a long-pending demand of the shipping industry.

While the decision has been welcomed as a step forward, stakeholders have raised concerns over the exclusion of smaller vessels that operate exclusively along the coast, including those supporting ports and the offshore oil industry.

Rakesh Singh, President, Indian Coastal Ship Owners' Association, highlighted that out of roug...