New Delhi, August 11 (IANS). The proposed Container Manufacturing Assistance Scheme (CMAS) of the Central Government can prove to be an important initiative towards promoting container manufacturing in the country, reducing dependence on imported empty containers and generating employment on a large scale. According to the government, the scheme is likely to create more than 53,000 employment opportunities, and also provide a boost to India's maritime and logistics sector.
According to the official statement issued by the government, under this scheme, investment of about Rs 99,149 crore can be encouraged for the development of a fleet of 51 container ships of different sizes and procurement of containers domestically, which will give impetus to maritime transport and export-import activities in India.
The statement said that about 3,000 direct jobs and more than 50,000 indirect jobs can be created through CMAS. Sectors related to container manufacturing, supporting industries and logistics will benefit from these opportunities.
The scheme, with an outlay of Rs 10,000 crore, will focus on investment, technological development and increasing production capacity in the container manufacturing sector. The government believes that this will also give a boost to many supporting industries related to the container ecosystem, including industries manufacturing products like corner casting, wooden frames and Corten steel.
The government said CMAS is an important step towards developing a globally competitive marine manufacturing ecosystem in India. This will strengthen the supply chain, increase employment and strengthen India's competitiveness in global trade.
The scheme is in line with the government's key initiatives such as 'Make in India', 'Maritime Amrit Kaal Vision 2047' and Multimodal Logistics Development, which aims to make India self-reliant in the field of maritime manufacturing and logistics.
India's growing trade and manufacturing ambitions have further increased the need for domestic container manufacturing capacity. According to the United Nations Conference on Trade and Development (UNCTAD), about 80 percent of global goods trade is transported by sea. In such a situation, availability of containers is an important basis of global trade.
The government said that India currently imports about 2 million empty containers every year to meet its needs and to recondition containers. CMAS aims to reduce this import dependence and create a strong manufacturing base in the country.
UNCTAD has also said in its reports that geopolitical tensions in recent years have increased the volatility of ocean freight rates and put pressure on global supply chains. For this reason many countries are now paying more attention to domestic manufacturing of important logistics equipment like containers.
The government believes that this new scheme, along with ongoing comprehensive reforms in the shipping, ports and logistics sectors, will strengthen India's maritime capabilities and enhance the country's global trading competitiveness in the long run.
It is noteworthy that the Central Government has also recently announced a Shipbuilding Financial Assistance Package of Rs 70,000 crore, the objective of which is to increase domestic shipbuilding capacity and attract investment in the marine manufacturing sector.
–IANS
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