Container shortages severely disrupted trade in the second half of 2020, just as consumer demand began catching up to pre-pandemic levels. Indian shippers, just like their European, Australian, and US counterparts, began to feel the heat of the crisis as ocean freight rates skyrocketed. Governments around the world were forced to intervene, and the situation has somewhat stabilized.
A rising economy backed by increased export volumes has pushed the Indian government to address the root cause of the container problem so that a repetition of the same issue does not occur in the future. As the result, the Indian government is set to invest in the container manufacturing sector with the primary goal of boosting its exports. Learn more here.