The Union Cabinet on Wednesday approved a Rs 10,000-crore container manufacturing scheme and a Rs 1,856-crore sports goods scheme. Union Minister Ashwini Vaishnaw said, “With this scheme India will become container manufacturing hub.” The plan aims to boost domestic production over 13 years, helping India build a strong base for global trade.
The Union Cabinet on Wednesday approved the Container Manufacturing Promotion Scheme with a total outlay of Rs 10,000 crore over 13 years, up to FY40, to strengthen India's domestic container manufacturing base. It also approved a sports goods manufacturing scheme worth Rs 1,856 crore.
The container manufacturing scheme has four components: interest subvention assistance, testing and certification assistance, land leasing support and operational expenditure assistance.
Under the interest subvention assistance component, Rs 859 crore has been earmarked to provide a 3% annual interest subvention on term loans for capital expenditure.
“Steel manufacturers will be nudges to create container-grade steel. With this scheme India will become container manufacturing hub,” Union Minister Ashwini Vaishnaw said.
The scheme sets an annual capacity threshold of at least 1,00,000 twenty-foot equivalent units (TEUs) for greenfield facilities and at least 25,000 TEUs for brownfield expansions. Projects must be commissioned within three years of in-principle approval and meet global container standards.
The scheme also earmarks Rs 150 crore, around 1.5% of the total outlay, for testing and certification facilities, including dynamic longitudinal impact testing.