Cabinet clears ₹10,000 crore outlay to boost container manufacturing
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Union Cabinet on Wednesday approved two schemes with an outlay of over ₹11,800 crore.
- ✓It cleared ₹10,000 crore to boost container manufacturing and ₹1,857 crore for the sports goods sector.
- ✓These plans aim to create many jobs, reduce import dependence, and strengthen India’s position in global manufacturing markets.
Story at a Glance
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- MARKET
- Reported By
- Business Line
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Also announces ₹1,857 crore to strengthen sports goods sector
To further boost manufacturing, the Union Cabinet on Wednesday approved two schemes with the outlay of over ₹11,800 crore. While the first scheme is about boosting container, the second one aims to promote manufacturing of sports goods and equipment in India.
Both the schemes are follow-up of Budget announcements. According to a government statement, the scheme with a budgetary outlay of ₹ 10,000 crore up to FY40 to promote a globally competitive container manufacturing ecosystem in India. It has four components -- interest subvention assistance (ISA), operational expenditure assistance (OEA), testing and certification assistance and land leasing support and operational expenditure assistance.
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