India is planning to establish a consortium for the operation of global ports, with various public sector enterprises holding equity stakes. Bharat Global Ltd will involve Indian Port Rail & Ropeway Corporation, Sagarmala Development Company, and Shipping Corporation of India (SCI) as key stakeholders. A new vertical within SCI, Bharat Container Shipping Line, will be launched to address global trade disruptions.
The consortium aims to replicate the successful Chabahar port model in other strategic locations, following a 10-year bilateral agreement to operate the Chabahar port in Iran. India Ports Global Ltd (IPGL) is set to invest around $120 million in the development of the Chabahar port, as India seeks to expand its maritime presence and trade connectivity.
In addition to infrastructure investments, India has offered an INR credit line worth $250 million for projects focusing on enhancing Chabahar’s facilities. India Ports Global, a joint venture between Jawaharlal Nehru Port Authority and Deendayal Port Authority, is spearheading these initiatives. The establishment of Bharat Container Shipping Line in response to a global container shortage driven by the Covid-19 pandemic is expected to bolster SCI’s capabilities, traditionally focused on shorter distances and coastal trade.
This development signifies India’s commitment to enhancing its global port operations and trade connectivity, as it looks to capitalize on strategic opportunities in international maritime trade. The formation of this consortium underscores India’s proactive stance in navigating global trade disruptions and strengthening its position as a key player in the shipping and logistics industry.
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