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New Delhi mulls SCI stake sale

Shares of Shipping Corporation of India leapt today after a government think-tank suggested another 26% of the nation’s flag carrier should be sold to investors.

NITI Aayog, or the National Institution for Transforming India, made the proposal. The institution is a government of India policy think-tank established by the Narendra Modi government to replace the Planning Commission.

The sale could raise as much as $150m for the nation’s coffers, the think-tank claimed.

At present the government holds 63.75% in SCI.

The proposal will now head to the Cabinet Committee on Economic Affairs.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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