The Centre on Tuesday signed a Memorandum of Understanding (MoU) to establish the Bharat Container Shipping Line (BCSL), signalling a coordinated push across the railways and shipping sectors.
This is said to be a major step in the development of an integrated, domestically anchored container ecosystem under the Container Manufacturing Assistance Scheme (CMAS).
Led by Hon'ble PM Shri @narendramodi ji, India is reclaiming its rightful place on the global high seas.
— Sarbananda Sonowal (@sarbanandsonwal) February 3, 2026
Glad to take part along with Union Minister Shri @AshwiniVaishnaw ji & Union MoS Shri @Shantanu_bjp ji in the MoU signing ceremony for the establishment of the Bharat… pic.twitter.com/foX15ZLFaP
Announced in the 2026 Union Budget, the CMAS has an outlay of Rs 10,000 crore with which it aims to provide a major boost to India's maritime logistics ecosystem over the next five years.
The scheme aims for an annual domestic manufacturing capacity of 750,000 twenty-foot equivalent units (TEUs)—around 10 per cent of the global annual container demand.
It is also expected to generate investments of around Rs 1 lakh crore, in addition to creating 3,000 direct and 50,000 indirect jobs, Union Minister for Ports, Shipping and Waterways (MoPSW) Sarbananda Sonowal told Business Standard.
Yesterday at Transport Bhawan, two landmark MoUs were signed, marking a significant step in strengthening India’s global maritime presence.
— Ministry of Ports, Shipping and Waterways (@shipmin_india) February 4, 2026
From the launch of the Bharat Container Shipping Line to the expansion of the Outer Harbour at @vocpa_tuticorin, India’s maritime sector is… pic.twitter.com/73FrKvmTio
The MoU for the BCSL was signed by the Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), Jawaharlal Nehru Port Authority (JNPA), V.O. Chidambaranar Port Authority (VOCPA), Chennai Port Authority, and the Sagarmala Finance Corporation Limited (SMFCL)—under the aegis of the MoPSW.
Transport Bhawan in New Delhi also saw a separate tripartite MoU inked between the VOCPA, the SMFCL, and the Indian Railway Finance Corporation Limited (IRFC) for financing the Outer Harbour Project at the V.O. Chidambaranar Port in Tamil Nadu's Tuticorin.
V.O. Chidambaranar Port Authority, Tuticorin signed a Tripartite Memorandum of Understanding (MoU) with Indian Railway Finance Corporation Ltd. (IRFC) and Sagarmala Finance Corporation Ltd. (SMFC) to explore joint financing of up to ₹15,000 crore for the Outer Harbour Project at… pic.twitter.com/ZJWmJgmgpB
— V.O.Chidambaranar Port Authority, Tuticorin (@vocpa_tuticorin) February 3, 2026
The three parties will jointly contribute up to Rs 15,000 crore for eligible projects to expand the port's capacity 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), an ANI report said.
"(These initiatives are) likely to play a multiplier role to enhance our strategic and commercial presence in global maritime trade," Sonowal said.
Indeed, these initiatives are seen as strategic steps towards building national shipping capability in the container segment, and enhancing port infrastructure, in line with Atmanirbhar Bharat and Maritime Amrit Kaal 2047.
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