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New Delhi: On Sunday, Finance Minister Nirmala Sitharaman introduced a significant initiative aimed at container manufacturing, allocating Rs 10,000 crore over a five-year period to foster a competitive ecosystem in this sector.

To encourage eco-friendly cargo transportation, she announced a new scheme focused on enhancing construction and infrastructure equipment (CIE), aimed at boosting domestic production of advanced and high-value CIE.

During her Budget address, Sitharaman also proposed the creation of a Dedicated Freight Corridor that will link Dankuni in the East to Surat in the West.

Additionally, she revealed plans to operationalize 20 new National Waterways (NW) within the next five years, beginning with NW-5 in Odisha, which will connect mineral-rich regions like Talcher and Angul to industrial hubs such as Kalinga Nagar and the Ports of Paradeep and Dhamra.

A ship-repair ecosystem for inland waterways is also set to be established in Varanasi and Patna.

Furthermore, the minister proposed a Coastal Cargo Promotion Scheme aimed at encouraging a shift from rail and road transport to increase the share of inland waterways and coastal shipping from 6% to 12% by 2047.

To support this initiative, training institutes will be established as Regional Centres of Excellence to develop the necessary workforce, benefiting youth along the waterways by providing training and skill acquisition.

To improve last-mile connectivity and promote tourism, incentives will be offered to localize the manufacturing of seaplanes.

She stated, "A Seaplane VGF Scheme will also be introduced to support operations."