Cabinet approves Rs 10,000 Crore Scheme to Make India a Global Container Manufacturing Hub

The Union Cabinet has approved the Container Manufacturing Promotion Scheme (CMPS) with an outlay of Rs 10,000 crore, spanning from FY 2027-28 to FY 2039-40. Announced in the Union Budget 2026-27 and steered by the Ministry of Ports, Shipping and Waterways, the scheme aims to transform India into a global container manufacturing hub by raising domestic capacity roughly ten-fold, from about 70,000 TEUs to 7.5 lakh TEUs. The financial assistance components comprise interest subvention assistance, operational expenditure assistance to bridge import cost gaps with rising domestic content requirements, testing and certification facilities, scheme management, and land leasing support at major ports. The initiative is projected to reduce import dependence, generate direct and indirect employment, support ancillary industries, and foster economic output in alignment with the Maritime Amrit Kaal Vision 2047.