Last Updated on February 3, 2026 11:18 pm by INDIAN AWAAZ
Staff Reporter / New Delhi
The India’s Ministry of Ports, Shipping and Waterways today signed two MoUs for the formation of the Bharat Container Shipping Line and for financing the development of the Outer Harbour Development Project.
Signed in the presence of Union Railway Minister Ashwini Vaishnaw, Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal, the MoUs are aimed at strengthening India’s maritime infrastructure and reducing reliance on foreign shipping operators.
Addressing the event, Union Railways Minister Ashwini Vaishnaw said that 10 thousand crore rupees has been allocated in the Union Budget 2026-27 for the manufacture of shipping containers, which will strengthen domestic logistics and enable the expansion of container operations across the country.
He also mentioned that the Union Cabinet has approved a 65 thousand crore rupees ship construction programme, including shipbuilding financial assistance, ship recycling and maritime development, and a shipbuilding development scheme, to boost India’s shipbuilding ecosystem.
Speaking at the event, Mr Sonowal said the MoUs will help build domestic capacity, strengthen the maritime sector, and reduce dependence on foreign operators, making India self-sufficient in the shipping sector. During the event, Mr Sonowal also presented Swachh Bharat Pakhwada Awards 2025 and Hindi Pakhwada Awards 2025 to organizations under the Ministry of Ports, Shipping and Waterways.