New Delhi: The Central government’s proposed Container Manufacturing Assistance Scheme (CMAS) aims to promote domestic container production, reduce reliance on imported empty containers and create over 53,000 jobs, an official statement said on Tuesday.
The scheme could lead to investments of about Rs 99,149 crore in fleet development of 51 container vessels of various sizes and domestic container procurement, the government said.
“It has the potential to generate around 3,000 direct jobs and more than 50,000 indirect jobs across container manufacturing and allied industries,” it said.
CMAS, backed by a Rs 10,000 crore outlay, seeks to promote manufacturing, investment and technology development across the container ecosystem. The initiative is also expected to catalyse growth across several ancillary industries such as corner castings, wooden frames and corten steel.
“CMAS marks a significant step towards building a globally competitive maritime manufacturing ecosystem,” the statement said.
The scheme will strengthen supply-chain resilience, generate employment and enhance India’s competitiveness in global trade by promoting container production.
Further, CMAS complements the Government’s initiatives under Make in India, Maritime Amrit Kaal Vision 2047 and multimodal logistics development.
India’s growing trade and manufacturing ambitions have increased the need for a strong domestic container manufacturing base. According to the United Nations Conference on Trade and Development (UNCTAD), around 80 per cent of global merchandise trade by volume is transported by sea.
With broader reforms in shipping, ports and logistics, the initiative is expected to strengthen India’s maritime capabilities and support India’s long-term trade competitiveness.
UNCTAD has observed that geopolitical tensions increased freight-rate volatility and put pressure on maritime transport networks. As a result, many countries are placing greater emphasis on enhancing domestic manufacturing capabilities for critical logistics assets, including shipping containers.
India imports nearly 2 million empty containers each year to meet domestic demand and for repositioning purposes.
The government has also announced a Rs 70,000 crore Shipbuilding Financial Assistance Package. The package aims to boost domestic shipbuilding capabilities and encourage greater investments in the maritime manufacturing sector.
(IANS)
