This investment is by far the largest FDI in the Indian shipping sector since this sector was opened to 100% FDI in 2005

PTI New Delhi

Cyprus-based firms Interorient Navigation Co Ltd and Danship & Partners Ltd have announced a Rs 10,000 crore investment in the Indian shipping sector. This investment is by far the largest FDI in the Indian shipping sector since this sector was opened to 100 per cent FDI in 2005, Interorient said in a statement.  

The announcement comes days after PM Narendra Modi's visit to Cyprus on June 15, 2025. During his visit, Modi had formal discussions with President of Cyprus Nikos Christodoulides.  According to the statement, all the ships under this investment will be registered under the Indian flag, adding saliently to the India national shipping tonnage. The freight earned for carriage of Indian EXIM (export-import) trade will remain in the Indian economy, it added.