Hi Gene 
 
I'm not an expert on Indian metalwork, but from the red residue I would make a guess that it may have been for containing pigments. Hindus use pigments, especially vermilion, to anoint both themselves and figures of deities. 
 
Probably the V & A Museum in London could give a definitive description of its use...  I don't know what Indian name it would have, but it looks a nice object, maybe 19th century or even earlier ? 
 
Regards 
Colin
		 
		
		
		
		
		
		
		
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