The Indian government is working on a comprehensive plan to boost domestic manufacturing of steel shipping containers and including it for eligibility under the Production Linked Incentive (PLI) Scheme, government sources said on Thursday, September 22.
Under the PLI Scheme, manufacturers are eligible to receive fiscal incentives for a period of five years for creating incremental domestic capacity for a list of products.
The sources said that an inter-ministerial committee had been set up to look into ramping up domestic capacity for steel shipping containers and to bridge the huge demand-supply gap.
The committee has already submitted a draft list of recommendations which include putting containers in the list of products eligible to receive grants under the PLI Scheme, the sources said.
State-run Container Corporation Limited (CONCOR) operates the largest domestic fleet of 37,000 containers, entirely imported from China, against a demand of 50,000 containers over the next three years.
The inter-ministerial committee also looked into the issue of short supply of special grade steel Corten-A, required to manufacture shipping grade containers.
The sources said that the committee had taken up the issue of setting standards of Corten-A steel with the Bureau of Indian Standards (BIS) and also held discussions prompting domestic steel producers to seek certifications from the standards organizations and meet requirements of domestic container manufacturers.
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