India aims to enter container manufacturing sector
India is looking to invest heavily in the container manufacturing industry in order to increase its exports.
Container manufacturing is supposed to be a part of India's Atmanirbhar Bharat program, which is Prime Minister Narendra Modi's vision for the country to become self-sufficient.
Five pillars were established in the program: economy, infrastructure, system, vibrant demography, and demand.
The country's decision comes at a time when major liner routes are facing a container shortage, resulting in large freight rate increases. The lack of containers has also caused delays in the shipment of India's big exports, such as rice.
The Ministry of Ports, Shipping and Waterways of India has already formed a committee to examine the feasibility of producing containers in Bhavnagar, Gujarat.
China is currently the world's largest container producer, with a market share of more than 95 percent.
“We need to address the issue of containers at the earliest especially as we focus on boosting exports on one hand and reducing imports on the other,” Ajay Sahai, director general, Federation of Indian Export Organisation told India Narrative.
Maritime Business World