The Cabinet also gave its approval to introduce the High Courts (Alteration of Names) Bill, 2016 in Parliament. The Bill will facilitate the changing of the names of Bombay High Court as Mumbai High Court, Calcutta High Court as Kolkata High Court and Madras High Court as Chennai High Court.<br/><br/>The Cabinet also gave its in-principle approval for setting up a Major port at Enayam near Colachel in Tamil Nadu. A Special Purpose Vehicle, SPV will be formed for development of the Port with initial equity investment from the three Major Ports in Tamil Nadu V.O.Chidambaranar Port Trust, Chennai Port Trust, and Kamarajar Port Limited. <br/><br/>The SPV will develop the port infrastructure including dredging and reclamation, construction of breakwater, ensuring connectivity links etc. At present, there are only a few ports in India that have sufficient draft and can match global cargo handling efficiencies. Currently, all of India's trans-shipment traffic gets handled in Colombo, Singapore and other international ports. Indian port industry loses out upto 1 thousand 5 hundred crore rupees of revenues each year. <br/><br/>Establishing the Major port at Enayam will not only act as a major gateway container port for Indian cargo that is presently trans-shipped outside the country, but also become a trans-shipment hub for the global East-West trade route. Enayam port will also reduce the logistics cost for exporters and importers in South India who currently depend on trans-shipment in Colombo or other ports.