New Delhi, Jan. 28 -- The Centre is set to notify a new regulatory framework by early March to establish the Directorate General of Maritime Administration (DGMA), creating a unified regulator for India's maritime sector, two government officials aware of the development said.

The new framework will expand oversight across shipbuilding and repair, coastal shipping, inland waterways, port operations, manpower planning and approvals for investments.

The move is critical as India seeks to sharply expand its role in the global maritime economy-scaling up shipbuilding, boosting Indian-flagged vessels and attracting long-term private capital.

The new framework will transform the role of the Directorate General of Shipping (DGS) into a compre...