The scheme will run from FY 2027-28 to FY 2039-40, with three years for setting up facilities and ten years of production support.<\/a><\/p>\nSignificance of the scheme<\/p>\n
\u2022 Shipping containers are standardised steel freight containers that transport cargo across ships, railways and road vehicles without unloading and repacking the goods during transit.\u00a0<\/p>\n
\u2022 Built as per ISO (International Organisation for Standardisation) specifications, they enable seamless intermodal transport and efficient global trade.\u00a0<\/p>\n
\u2022 The most common sizes are 20-foot and 40-foot containers, measured in Twenty-foot Equivalent Units (TEUs), the standard unit used to measure container capacity.<\/p>\n
\u2022 India\u2019s trade depends on containers, but almost all of them are made abroad.\u00a0<\/p>\n
\u2022 India\u2019s container traffic is projected to grow from about 24 million TEUs in 2024 to 175 million TEUs by 2047 under the Maritime Amrit Kaal Vision, which makes home-grown capacity critical.<\/p>\n
Highlights of the scheme:<\/p>\n
\u2022 The scheme will support new factories as well as the expansion of existing units.\u00a0<\/p>\n
\u2022 It aims to lift India\u2019s annual container manufacturing capacity around ten-fold, to 7.5 lakh TEUs, from about 70,000 TEUs today.\u00a0<\/p>\n
\u2022 The scheme is expected to create about 3,000 direct and more than 50,000 indirect jobs, in steel, components and logistics.\u00a0<\/p>\n
\u2022 It will also support ancillary industries such as corner castings, specialised steel, wooden frames and paints.\u00a0<\/p>\n
\u2022 The government estimates it will generate about Rs 75,000 crore of economic output by FY 2039-40, more than seven times the support provided.\u00a0<\/p>\n
The scheme offers:<\/p>\n
i) Interest Subvention Assistance (Rs 859 crore): 3 per cent a year on eligible term loans for greenfield plants of at least 1,00,000 TEUs a year and brownfield expansions of at least 25,000 TEUs a year.<\/p>\n
ii) Operational Expenditure Assistance (Rs 8,891 crore): Support for every container made to global shipping standards and sold by an eligible manufacturer, to bridge the cost gap with imports. To avail support, manufacturers must meet a minimum local-content requirement of 70 per cent through FY 2031-32. These criteria will further rise to 90 per cent from FY 2032-33 to strengthen the domestic supply chain.<\/p>\n
iii) Testing and Certification (Rs 150 crore): Common facilities, such as dynamic longitudinal impact testing, to reduce dependence on overseas testing.<\/p>\n
iv) Scheme management (Rs 100 crore): Administration, monitoring and capacity building.<\/p>\n
v) Land at major ports: Leasing support at 25 per cent of the notified rate.<\/p>\n","protected":false},"excerpt":{"rendered":"\u2022 The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Container Manufacturing Promotion Scheme (CMPS) with…\n","protected":false},"author":2,"featured_media":670840,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[128067,72,113,61,60],"class_list":["post-670839","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-union-cabinet","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/670839","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=670839"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/670839\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/670840"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=670839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=670839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=670839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}