India plans 100 new ships to cut $75bn foreign freight bill: Govt

India plans to add 100 vessels to its merchant fleet over five years to cut reliance on foreign shipping lines, Union Minister Sarbananda Sonowal said. Minister of State Shantanu Thakur said India pays nearly $75 billion annually to foreign carriers for cargo such as crude oil, gas, coal and urea. Indian-flagged ships are 16-20% costlier than foreign vessels.