CMA CGM, one of the world's largest container shipping companies based in France, has reflagged its fifth vessel, the CMA CGM Vila Do Conde, under the Indian flag, which has a capacity of 2,592 TEUs. This reflagging is part of a broader strategy to enhance service efficiency across key trade routes and aligns with the Indian government's initiative to increase its maritime fleet. Prime Minister Narendra Modi previously highlighted the need for self-sufficiency in shipping, noting India's significant expenditure of ₹6 trillion (approximately $72 billion USD) on foreign shipping lines. CMA CGM aims to flag a sixth vessel in India by May 2024 and has made substantial investments in the Indian maritime sector, including a $350 million deal with Cochin Shipyard for six dual-fuel vessels. The company is also exploring operations in inland waterways and advocating for the establishment of Gujarat International Finance Tec-City (GIFT City) as a vessel registration hub, emphasizing the commercial and security benefits of registering vessels under the Indian flag.