- RSCPL (IFSC) Private Ltd, a 100 per cent subsidiary of RBB Ship Chartering Pte Ltd, Singapore, secures provisional licence to commence ship leasing business at GIFT City
- The company plans to commence commercial operations before March 2023
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Gandhinagar: In a landmark step towards boosting ship leasing services in India, RSCPL (IFSC) Private Ltd, a 100 per cent subsidiary of RBB Ship Chartering Pte Ltd, Singapore, has been issued a provisional licence to operate from India’s first International Financial Services Centre (IFSC) in Gujarat International Finance Tec-City (GIFT City).
RSCPL (IFSC) Pvt Ltd has received the maiden provisional license for ship leasing business in February 2023 and are planning to commence commercial operations before March 2023.
The maritime industry is a strategically important sector for India given the country’s vast coastline with massive global and domestic trade via sea routes. There is also a huge opportunity for India in promoting the shipping industry by incentivising domestic and international shipping companies (particularly those offering ship leasing / financial services) to set up their base in India. To tap into this enormous growth potential, a regulatory framework to enable the ship leasing business to be set up in GIFT City has already been put in place. The framework allows the ship leasing entities to offer operating lease, financial lease, and a hybrid lease structure from the GIFT IFSC.
Commenting on the development, Mr Tapan Ray, MD & Group CEO, GIFT City, said, “GIFT City is witnessing significant growth in various business verticals related to international financial services. Operationalization of ship leasing businesses will help in creating conducive ecosystem for international maritime cluster at par with other global maritime hubs. We expect ship leasing businesses will witness a similar trajectory as seen in aircraft leasing & financing vertical.”
Raajesh Bhojwani, CEO & MD, RBB Ship Chartering Pte Ltd, Singapore, said: “We are happy to have received the first ship leasing licence at GIFT City. We appreciate the efforts of officials of the Government of India, GIFT City, and IFSCA in this major milestone. The entire team of RBB Ship Chartering Pte Ltd, Singapore, is proud to be the 1st company to start ship leasing business at GIFT City, Gandhinagar, India. We are currently a profitable bootstrapped company and our vision is to be a globally-listed entity with revenue of over USD 7 Billion by 2027.”
About GIFT City
GIFT City is India’s first operational smart city and International Financial Services Centre (IFSC), GIFT City is an emerging global financial and IT services hub, a first of its kind in India, designed to be at or above par with globally benchmarked business districts. It is supported by state-of-the-art infrastructure encompassing all basic urban infrastructure elements along with an excellent external connectivity. GIFT City also provide conducive business ecosystem with ease of doing business, competitive tax regime, quality of life and many more advantages.
For more information, please visit website at https://www.giftgujarat.in/
Follow GIFT City on Twitter @GIFTCity_
About RBB Ship Chartering
RBB Ship Chartering is a new age vessel operator enjoying a good network association with leading ship owners, shippers, brokers, customs house agents, freight forwarders, stevedores and port agents. Till date, RBB has accomplished 1000+ deals with over USD 250+ million, nil litigation.
For more information please visit https://rbbship.in/
For more information, contact:
| GIFT City Nisarg Acharya: +91 89800 06441 [email protected] | RBB Shipping Raajesh Bhojwani: 9322198731 [email protected] |
