This is a pictograph of a pack combined with a pictograph of a stylised right hand (the hand is shown in profile). It is an ideograph for a pack that can be carried in one hand. Hence, it represents a small package.
Illustrative Text Reference:
Harappa: Seal: H-661 a: Sayid Ghulam Mustafa Shah and Asko Parpola, 1991: Corpus of Indus Seals and Inscriptions: Volume 2: Page 309: Collections in Pakistan: Suomalainen Tiedeakatemia.
Image Credit:
Indus Script Sign Number 1430: List of Sign Variants: Iravatham Mahadevan, 1977: The Indus Script: Texts, Concordance and Tables: The Director General Archaeological Survey of India.