Government Rules Out PLI Scheme For Container Manufacturing
(MENAFN- KNN India)
New Delhi, Aug 7 (KNN) In a recent statement to the Lok Sabha, Minister of State for Commerce and industry Jitin Prasada addressed concerns regarding container manufacturing and the start-up ecosystem in India.
The government currently has no plans to implement a Production Linked Incentive (PLI) scheme for the domestic manufacturing of shipping containers.
Despite ongoing global conflicts and maritime security issues, Prasada reported no acute shortage of containers for exports.
He emphasised that container availability at ports is primarily influenced by global supply and demand dynamics.
To ensure container availability, the government has implemented various measures. These include regular interactions with stakeholders, such as shipping lines, port operators, and trade associations.
Additionally, Container Corporation of India Ltd (CONCOR) has placed orders for containers from domestic manufacturers. The minister noted that these steps aim to support both export and domestic shipments.
Prasada also provided an update on India's start-up sector. Since the launch of the Start-up India initiative in 2016, 140,803 entities have been recognised as start-ups by the Department for Promotion of Industry and Internal Trade (DPIIT) as of June 30, 2024. These recognised start-ups have reportedly created over 1.553 million direct jobs.
For context, the PLI scheme, introduced in 2021 with an outlay of Rs 1.97 lakh crore, covers 14 sectors but does not include container manufacturing.
The sectors benefiting from this scheme include telecommunication, white goods, textiles, medical devices, automobiles, and advanced technologies.
This report provides an overview of the government's current stance on container manufacturing incentives and highlights the progress of India's start-up ecosystem.
(KNN Bureau)
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