India plans to start manufacturing shipping containers as part of Prime Minister Narendra Modi’s Make in India campaign.
Local media reports that the government will appoint a consultant to determine the country’s capacity for the task. It will also seek foreign expertise in the manufacture of specialized containers.
The government believes that there are many companies in the public sector which have idle capacity suitable for the new industry.
Currently Indian shipping companies use containers made in China, Korea and Europe.
"In the short term there may be a cost disadvantage, but in the long term this will pay off as trade is getting more containerized," said Vishwas Udgirkar, Senior Director, Deloitte India, reports Daily Shipping Times.
Container trade in India has been growing over 12 percent each year recently.