India Sets Sail for Cruise Tourism Boom by 2029

India's Cruise Bharat Mission aims to boost sea cruise tourism by exponentially increasing tourists to one million by 2029. Six major ports currently facilitate cruise terminals. New taxation and exemption measures for foreign cruise operators are being introduced, promoting India as a key global cruise destination.

The Indian government has set an ambitious goal to increase sea cruise tourism in the country, targeting one million tourists by 2029 under the Cruise Bharat Mission. Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal, disclosed to Parliament that six main ports in India are currently equipped with cruise terminals.

In an official response given to parliament last Friday, Minister Sonowal highlighted policy changes, including the introduction of a presumptive taxation regime tailored for foreign non-resident entities operating cruise ships. This regime applies to significant cruise ports such as Vishakhapatnam, Mormugao, New Mangalore, Cochin, Mumbai, and Chennai.

Moreover, a statement from the Ministry of Ports, Shipping and Waterways outlined an income tax exemption for foreign companies on lease and rental income, taking effect from April 2025 through to the 2030-31 assessment year. This move ensures alignment between foreign cruise operators and their parent companies, facilitating smoother operations in India's cruise tourism sector.

(With inputs from agencies.)