New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the Container Manufacturing Promotion Scheme (CMPS) with a budgetary outlay of Rs 10,000 crore up to FY 2039-40.
The scheme aims to generate an estimated 3,000 direct jobs and over 50,000 indirect jobs, while supporting ancillary industries such as corner castings, specialised steel, wooden frames and paints.
The scheme envisages establishing a globally competitive container manufacturing ecosystem in India, reducing import dependence and strengthening supply-chain resilience. The scheme is intended to support new manufacturing facilities as well as expansion of existing container manufacturing units.
The Scheme for Container Manufacturing was announced in the Union Budget 2026–27.
Among the major components is Interest Subvention Assistance (ISA) with a financial outlay of Rs 859 crore to provide Interest subvention of 3 per cent per annum on eligible term loans (capital loans) availed by container manufacturers for setting up greenfield container manufacturing facilities and Brownfield expansion of existing container manufacturing capacities
It also has operational expenditure assistance (OEA) with a financial outlay of Rs 8,891 crore to provide financial assistance for all containers manufactured as per global shipping standards and sold by eligible container manufacturers.
This would help bridge the cost gap and improve the competitiveness of domestically manufactured containers, according to an official statement.
Another component is testing and certification assistance with a financial outlay of Rs 150 crore to support setting up of common facilities such as Dynamic longitudinal impact testing, etc.
This will increase annual domestic container manufacturing capacity by around ten-fold, up to 7.5 lakh TEUs, create an internationally competitive manufacturing base, with potential to position India as a global export hub for quality shipping containers, and strengthen resilience of India’s maritime and logistics supply chains, according to the Cabinet.
(IANS)
