The Union Government on Tuesday moved a step closer to building an integrated, domestically anchored container ecosystem, as a memorandum of understanding (MoU) was signed to establish the Bharat Container Shipping Line (BCSL).

According to an official release, the MoU was signed among the Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), Jawaharlal Nehru Port Authority, V.O. Chidambaranar Port Authority (VOCPA), Chennai Port Authority, and Sagarmala Finance Corporation Limited (SMFCL), under the aegis of the ministry of ports, shipping and waterways.

In addition to the BCSL MoU, a separate tripartite MoU was signed for financing the Outer Harbour Project at V.O. Chidambaranar Port Authority (VOCPA), Tuticorin, between VOCPA, Indian Railway Finance Corporation Limited (IRFC) and SMFCL.

The agreement provides for joint funding of up to ₹15,000 crore for eligible projects aimed at port capacity expansion under the Sagarmala Programme and the PM Gati Shakti National Master Plan. The financing framework focuses on debt funding for breakwater construction and allied onshore-offshore facilities, primarily through a Hybrid Annuity Model (HAM).

_{Credit: India’s Press Information Bureau}

Sarbananda Sonowal, union minister for ports, shipping and waterways stated that these initiatives, including BCSL and the Outer Harbour financing, are strategic steps towards building national shipping capability in the container segment and enhancing port infrastructure.

“The Bharat Container Shipping Line, aligned with the Container Manufacturing Assistance Scheme (CMAS) announced in Budget 2026-27, will anchor India’s container trade in Indian hands, while the Outer Harbour financing strengthens our port backbone,” Sonowal said.

India, currently the world’s fourth-largest economy, is projected to reach a GDP of about $7.3trn by 2030, a trajectory expected to significantly increase export-import volumes and containerised cargo traffic.