The Union Government has advanced its vision for a self-reliant container ecosystem by signing a key memorandum of understanding (MoU) to establish the Bharat Container Shipping Line, aligning with the Container Manufacturing Assistance Scheme from the Union Budget 2026-27. The agreement was signed among the Shipping Corporation of India, Container Corporation of India, 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, a tripartite MoU was inked for financing the Outer Harbour Project at V.O. Chidambaranar Port with up to Rs 150 billion in joint funding to expand port capacity under the Sagarmala Programme and PM Gati Shakti Master Plan. This agreement was signed between VOCPA, Indian Railway Finance Corporation Limited and SMFCL.