The Union Cabinet has approved a scheme for container manufacturing with a budgetary outlay of Rs.10,000 crore over the next 13 years. The scheme aims to establish a competitive container manufacturing ecosystem in India and reduce import dependence.
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Container Manufacturing Promotion Scheme (CMPS) with a budgetary outlay of Rs.10,000 crore until FY 2039-40. The scheme is designed to establish a globally competitive container manufacturing ecosystem in India and decrease import dependence. This move is expected to strengthen supply-chain resilience.
The CMPS consists of three major components: Interest Subvention Assistance (ISA), Operational Expenditure Assistance (OEA), and Testing and certification assistance. The ISA, with a financial outlay of Rs.859 crore, provides an interest subvention of 3% per annum on eligible term loans for setting up greenfield container manufacturing facilities and expanding existing ones. The OEA, with a budget of Rs.8,891 crore, offers financial assistance for containers manufactured as per global shipping standards and sold by eligible manufacturers to help bridge the cost gap and improve competitiveness.
The testing and certification assistance component has a financial outlay of Rs.150 crore and aims to support setting up common facilities such as Dynamic longitudinal impact testing.
Source:
Press Information Bureau
