In a remarkable stride towards bolstering the ‘Make in India’ campaign, Econship, a leading player in the shipping & NVOCC sector, has recently procured its first batch of new build containers in India. This significant development not only promotes the government’s ambitious initiative but also serves as a litmus test for the quality of manufacturing within the country. SYMCON® located in close proximity to Ahmedabad, has emerged as a trailblazer in ISO freight container production. It signals a promising future for mass manufacturing of containers in India. For far too long, China had enjoyed an almost complete monopoly in this industry due to the various barriers faced by countries like India, such as high taxes, expensive imports, and bureaucratic hurdles. However, recent reforms and the government’s unwavering support have emboldened Indian entrepreneurs to take the leap and establish container manufacturing facilities in the country.
Historically, excessive taxes, expensive imports, and a complex web of licensing and permissions have made it arduous for India to compete with the might of China in the container manufacturing sector. The implementation of the Goods and Services Tax (GST) brought some respite; however, challenges persisted, particularly with regards to export initiatives. Issues such as GST on export freight, delayed or disallowed credits, and late GST refunds hampered the competitiveness of export industries. Despite these obstacles, determined entrepreneurs have chosen to embrace the risk of manufacturing containers within India, encouraged by the government’s sincere intentions and initiatives to support the industry. While hurdles remain, the government has been actively involved in providing assistance, but industries call for further reforms and relaxations to facilitate investment and job creation.
The ‘Make in India’ initiative has become a catalyst for change, fostering a supportive environment for container manufacturing entrepreneurs. The government’s commitment to the cause has instilled the necessary confidence in businesses to invest in this sector, despite the lingering uncertainties. With the government’s backing, entrepreneurs are taking calculated risks, recognizing the potential for growth and the positive impact their ventures can have on the economy. By encouraging more reforms and relaxations, both at the state and central levels, the government can further incentivise investment and unleash a wave of job creation.
The nascent strides made in container manufacturing within India underscore the transformative power of the ‘Make in India’ campaign. Econship’s recent procurement of new build containers and the emergence of SYMCON® as a pioneer in ISO freight container production are indicative of a promising future for the country’s manufacturing industry. Although challenges persist, the government’s initiatives and the unwavering spirit of Indian entrepreneurs deserve praise. Moving forward, sustained efforts to address barriers, promote investment, and create a business-friendly environment will propel container manufacturing in India to new heights, fostering economic growth and establishing the country as a formidable player in the global market.
