Cabinet approves Rs.10,000 crore for container manufacturing scheme
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Container Manufacturing Promotion Scheme (CMPS) with an outlay of Rs 10,000 crore.
The allocation is made for the scheme to run till FY 2039-40 and establish a globally competitive container manufacturing ecosystem in India, reduce import dependence, and strengthen supply-chain resilience.
According to the Press Information Bureau, the scheme has the following components:
- Interest Subvention Assistance (ISA) with a financial outlay of Rs.859 crore to provide Interest subvention of 3% 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
- 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.
- 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.
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