What do you understand by Right of First Refusal (ROFR) clause? Recently Government has proposed to scrap this clause, how will Scrapping of ROFR effect the Indian Shipping Industry? (150 W)

Source:

https://www.thehindubusinessline.com/economy/logistics/govt-set-to-pull-the-plug-on-right-of-first-refusal-for-indian-ships/article24282009.ece

https://www.thehindubusinessline.com/economy/logistics/shipping-ministry-working-on-compromise-formula-to-tweak-right-of-first-refusal/article24513736.ece