Cabinet approves Rs 10,000 crore container manufacturing scheme
The scheme will support new factories, expansion of existing units and testing facilities as India seeks to cut import dependence and strengthen supply chains.
- On Wednesday, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Container Manufacturing Promotion Scheme with a Rs 10,000 crore budgetary outlay, aiming to increase India's annual container manufacturing capacity tenfold to 750,000 TEUs by FY 2039-40.
- Union Minister Ashwini Vaishnaw noted that 95% of global container production occurs in a single country, forcing India to import nearly 2 million empty containers annually to meet domestic trade demands.
- The scheme allocates Rs 8,891 crore for Operational Expenditure Assistance to help manufacturers remain cost-competitive, Rs 859 crore for Interest Subvention Assistance providing 3% annual interest subsidies, and Rs 150 crore for testing and certification facilities.
- Government projections indicate the initiative will generate around 3,000 direct jobs and more than 50,000 indirect positions across container manufacturing and allied industries, positioning India as a competitive global export hub.
- Participating manufacturers must increase local content from 70% to 90% by FY 2032-33, with the program extending until FY 2039-40 to help domestic producers overcome cost disadvantages against established international rivals.
27 Articles
27 Articles
India to boost sports goods manufacturing with new Khelo India scheme
The Union Cabinet has approved the Khelo India Sports Goods Manufacturing Scheme with an outlay of Rs 1,856.67 crore for 2026-2033-34. This initiative aims to strengthen India's position in the global sports goods sector through dedicated manufacturing zones, research, skill development, and market expansion, fostering self-reliance and creating employment opportunities.
Cabinet approves Rs 10,000 crore container manufacturing scheme, expected to create over 53,000 jobs - The Tribune
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, aimed at increasing India's annual container manufacturing capacity by nearly ten-fold to 7.5 lakh twenty-foot equivalent units (TEUs).
aninews.in
LatestlyCabinet approves Rs 10,000 crore container manufacturing scheme, expected to create over 53,000 jobs
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, aimed at increasing India's annual container manufacturing capacity by nearly ten-fold to 7.5 lakh twenty-foot equivalent units (TEUs).
Cabinet approves Rs 10,000-crore container manufacturing scheme, Rs 1,856-crore sports goods scheme
The container manufacturing scheme has four components: interest subvention assistance, testing and certification assistance, land leasing support and operational expenditure assistance.
Coverage Details
Bias Distribution
- 70% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
