Union Cabinet to review ₹10,000cr Container Manufacturing Assistance Scheme (CMAS)
The Union Cabinet is about to review a massive ₹10,000 crore scheme, called the Container Manufacturing Assistance Scheme (CMAS), to ramp up India's own shipping container production.
Announced in this year's budget, CMAS is all about cutting down imports and giving local manufacturing a real boost by setting up new units, upgrading old ones, and investing in better testing facilities and skill training.
CMAS could produce 7.5L TEUs annually
If it gets the green light, CMAS could help India make around 7.5 lakh TEUs annually.
That means thousands of new jobs, about 3,000 directly in factories and over 50,000 more in related sectors.
Plus, it fits right in with big national projects like PM Gati Shakti and aims to make India's shipping industry more resilient against global ups and downs.