The president of the FIEO explained that the manufacture of shipping containers requires special steel, among them, China manufacturers accounted for 80% of the world's containers. If the government hoped to achieve US$1 trillion export target within the next five years, they need to develop domestic manufacturing of specialty steels and containers.
In addition, the FIEO has sought financial incentives in the state budget and presented them before the Indian Parliament on February 1.
Indian exporters seek financial incentives for steel container manufacturing
According to the report, the Federation of Indian Export Organizations (FIEO) appealed that the government must adopt financial incentives to manufacture steel shipping containers because supply shortages affect export shipments.
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