In a bid to the shipping industry, the government has decided to launch the PM JalMargYojna and projects for setting up dry and satellite ports, besides converting riverways into waterways.
Shipping Corporation of India (SCI) is one of the beneficiaries of the PM JalMargYojna. Company CMD AK Gupta feels the government is focusing on setting up infrastructure ports.
Going ahead, the company will have to improve infrastructure and tonnage that supports shipping infrastructure, he says in an interview to CNBC-TV18.
Below is the verbatim transcript of the interview:
Q: How could a company like yours benefit from this JalMarg Yojana Scheme?
A: Anything which happens good for the shipping will benefit all shipping companies including SCI. We are the largest shipping company in India so any development any progress in any promotion of Indian ship building ports we will get to bite the pie.
Q: There are various ports that will be set up in states like Uttar Pradesh and Telangana there will be awarding of orders to companies like yours. So, if you could just tell us what the scope is what the potential is for a company like SCI in terms of revenue, growth etc?
A: SCI is not into ports but the focus of the government is surely development of ports, development of infrastructure and setting up more ports not only the ports that are on the shore but virtual ports the ports in the hinterland so they can be virtual ports. You need not ship you can ship from inland ports. So, that is the focus of the government and we are very happy that such a push is being given. Ultimately, what we have to see that India carries only about 9-10 percent of our export import (exim) trade and rest of all is taken up by foreign shipping lines. This is our main concern we have to improve our port infrastructure. We have to improve our tonnage and we have to give some support to the local industry let it be shipbuilding, ports and the shipping companies.
Q: The last three years have been loss making for Shipping Corporation but this year it has looked better at least in the first two quarters. In your sense do you think that the company will make profit this year?
A: I can’t forecast but keep your fingers crossed. I am trying my, we all in the Shipping Corporation my senior management we are trying our best that we want to be in the black this year.
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