Major ports register cargo growth post demonetisation: Mansukh Lal

The Dollar Business Bureau

Post-demonetisation, 12 main ports of the country have recorded a considerable growth in terms of cargo handled in the months of November and December by recording a rise of 11.2% and 12.7%, respectively.

“Cargo handled by major ports after demonetisation have shown a growth in comparison to the same period last year,” Minister of State in the Ministry of Road Transport and Highways, Mansukh Lal Mandaviya, told Rajya Sabha in a written response.

The Minister said 56.7 million tonnes of cargo was handled by the ports in month of December last year (growth of 12.7%) and registered 54 million tonnes cargo in the month of November (a growth 11.2%).

During the April-October 2016period, these ports handled 370 million tonnes of cargo.

In FY 2015-16, the major ports in the country had handled 606 million tonnes of cargo compared to Rs.581 million tonnes of cargo in FY 2014-15.

Mandaviya said since late 2008 due to the uncertainties in world markets the shipping industry has been under pressure and Indian shipping sector has also been suffering due to a volatile and depressed freight market.

“The freight rates charged by shipping firms are a function of global demand and supply of ships and cargo. There is no connection between the liquidity in India’s economy and the freight charges which are global in nature,” he said.