India likely to form consortium for global port operations: Report

Bharat Container Shipping Line will be launched as a vertical within SCI to vet global trade disruptions.

India plans to set up a consortium for operating global ports with equity participation by public sector enterprises, The Economic Times has reported.

Bharat Global Ltd will have Indian Port Rail & Ropeway Corporation, Sagarmala Development Company and Shipping Corporation of India (SCI) as stakeholders, the report said.

Bharat Container Shipping Line will be launched as a vertical within SCI to vet global trade disruptions.

The consortium will replicate the Chabahar port model in other strategic locations, the report said.

Moneycontrol couldn't independently verify the report.

After signing a 10-year bilateral pact to operate Chabahar port in Iran, India is exploring opportunities to enhance maritime presence and trade connectivity.

India Ports Global Ltd (IPGL) will invest approximately $120 million in Chabahar port. India has also offered an INR credit window equivalent to $250 million for mutually identified projects aimed at improving Chabahar-related infrastructure.

India Ports Global is a joint venture of Jawaharlal Nehru Port Authority and Deendayal Port Authority.

A global container shortage that followed the covid outbreak-led trade disruptions prompted the setting up of Bharat Container Shipping Line, an official said.

“SCI’s shipping line will also ensure that any future container shortages will not affect India’s trade interests,” the report quoted the official as saying.

Bharat Container Shipping Line will also boost the prospects of SCI, which has largely focused on shorter distances and coastal trade, the report said.