- India plans to launch the Bharat Container Line to reduce reliance on foreign vessel operators.
- A $3 billion Maritime Development Fund aims to expand domestic shipbuilding and global port infrastructure.
- India strengthens maritime trade ties amid geopolitical shifts, including closer ties with France and the U.S.
India has announced an ambitious maritime initiative, including the launch of Bharat Container Line, a new national shipping operator aimed at reducing dependence on foreign carriers. The plan envisions a fleet of 100 vessels, strengthening India’s presence in global trade, reports Freight Waves.
India’s Maritime Vision
Currently, the Shipping Corporation of India (SCI) operates only four container ships, making this initiative a major step toward maritime self-sufficiency.
By comparison, global shipping giant Mediterranean Shipping Co. (MSC) operates nearly 900 vessels.
Strengthening Global Partnerships
India’s maritime strategy is closely tied to the India-Middle East-Europe Economic Corridor (IMEC), a project designed to enhance Indo-Mediterranean trade. Prime Minister Narendra Modi recently met with French President Emmanuel Macron at CMA CGM’s headquarters in Marseille to discuss logistics cooperation.
Rodolphe Saade, CEO of CMA CGM, emphasized IMEC’s potential:
“More than just infrastructure, IMEC is about connecting economies, fostering sustainable growth, and shaping the future of global trade.”
$3 Billion Maritime Development Fund to Drive Growth
To further boost the industry, India has announced a $3 billion Maritime Development Fund, focused on domestic shipbuilding and overseas port expansion. This mirrors China’s Belt and Road Initiative, positioning India as a major maritime player.
Additionally, SCI partnered with Bharat Petroleum Corp. Ltd. to strengthen the government’s maritime strategy and secure energy transportation routes.
India’s Role in Russian Oil Trade & U.S. Sanctions
India has become a key player in global energy trade, particularly after the European Union banned Russian crude imports in 2022. India surpassed Iraq as Russia’s largest crude customer by refining and exporting Russian oil.
The U.S. recently sanctioned 160 Russian tanker vessels, part of a “dark fleet” evading global restrictions by turning off satellite tracking. While sanctions have disrupted some shipments, many still reach China and India, reinforcing India’s role in global oil logistics.
Modi’s recent meeting with U.S. President Donald Trump in Washington highlights India’s growing geopolitical influence.
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Source: Freight Waves
