India is contemplating significant changes to its maritime law that could impact ship leasing operations at Gujarat International Finance Tec-City (GIFT City). The proposed Merchant Shipping Bill mandates that any ship registered in India must have at least 51% ownership by Indian companies, a shift from the existing framework that has allowed leasing companies in GIFT City to operate without such restrictions. This change could deter global investment in India's maritime finance sector, which has been gaining traction as a competitor to established hubs like Singapore and Hong Kong. Experts, including Suresh Swamy from Price Waterhouse & Co., emphasize the importance of regulatory clarity to maintain investor confidence and ensure growth in ship leasing activities. The new ownership requirement could complicate sale-and-leaseback transactions, raising costs and reducing the pool of potential investors. As a result, capital may be redirected to competing jurisdictions that offer more favorable regulatory environments.