NEW DELHI. The Ministry of Ports, Shipping and Waterways on Tuesday signed two Memoranda of Understanding in New Delhi for the formation of the Bharat Container Shipping Line and for financing the Outer Harbour Development Project. Signed in the presence of Union Railway Minister Ashwini Vaishnaw and Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, the agreements aim to strengthen India’s maritime infrastructure and reduce dependence on foreign shipping operators.
Addressing the event, Mr Vaishnaw said ₹10,000 crore has been allocated in the Union Budget 2026–27 for the manufacture of shipping containers to boost domestic logistics and container operations. He also highlighted Cabinet approval for a ₹65,000 crore ship construction programme to strengthen the shipbuilding ecosystem. Mr Sonowal said the MoUs would help build domestic capacity and make India more self-reliant in the shipping sector. He also presented Swachh Bharat Pakhwada Awards 2025 and Hindi Pakhwada Awards 2025 to organisations under the Ministry.
According to the MoU, Bharat Container Shipping Line is proposed to be formed for acquiring, owning, leasing, and operating container vessels, containers, and related logistics assets to support export-import (EXIM) and coastal trade. The collaboration seeks to provide comprehensive end-to-end logistics solutions by integrating port-based services with land and sea-based transportation, leveraging the combined expertise of all participating entities.
