New Delhi, Oct. 30 -- The Union Cabinet on 28 October approved a Rs.10,000-crore scheme to boost domestic container manufacturing, with an aim to raise India's annual capacity from 70,000 twenty-foot equivalent units (TEUs) to 7.5 lakh TEUs by FY40. The outlay includes Rs.8,891 crore for operating-cost support, Rs.859 crore in interest subsidies and Rs.150 crore for testing and certification.

Mint explains why India wants to build a domestic container industry and what the scheme seeks to achieve.

Why does India want to manufacture shipping containers?

Containers, the steel boxes that carry freight across the world, are among the foundations of globalization, according to economist and journalist Marc Levinson, author of The Box: How t...