India is making a big push to enhance its shipping industry with some key new strategies. The government is introducing measures to boost Indian shipping lines, aiming to cut down on reliance on foreign companies and tackle rising freight costs. One of the biggest changes is the updated Right of First Refusal (ROFR) policy. This policy now gives a leg up to Indian-built and Indian-flagged ships, letting them match the lowest bids from foreign ships. It gives priority to ships that are not just Indian-flagged but also Indian-built and Indian-owned. Even ships owned by Indian International Financial Services Centre Authority (IFSCA) entities get a boost. Another major initiative is a new subsidy scheme launched in 2021 with Rs 1,624 Crore set aside for the next five years. This scheme helps Indian shipping companies by providing financial support for bidding on global tenders to transport important cargo like crude oil, LPG, coal, and fertilizers. Additionally, the Ship Building Financial Assistance Policy (2016-2026) supports Indian shipyards with up to 20% of the contract price for building eligible vessels. This is aimed at encouraging domestic shipbuilding and making Indian shipyards more competitive globally. The results are already showing up. By mid-2024, India’s fleet has grown to 485 ships in international trade and 1,041 in coastal trade, totalling 1,530 vessels with 13.7 million gross tonnage. This steady increase in Indian ships over the past decade is impressive. What's more, there’s a noticeable shift towards using Indian-flagged vessels, reflecting growing confidence in our domestic shipping industry. This trend supports India’s goal of becoming more self-reliant in maritime trade and boosts our economic growth.