NEW DELHI: China meltdown, decline in oil price and low exports are hurting the business the cargo business, says Arun Kumar Gupta, Chairman & Managing Director (CMD), Shipping Corporation of India (SCI).
In an interview, Gupta says going forward, business is looking difficult. India is expected to touch its five-year low of USD 265 million of exports by the end of this fiscal, he says.
The company’s container segment is in shambles, he says. However, the profitable tanker business has been able to balance out the situation, he adds.
Gupta refused to comment on the government’s recent decision to select someone from private sector for the post of chairman on the shipping company.
Recently, Road Minister Nitin Gadkari had said that the prime minister has given permission to select a private sector candidate for the post of SCI Chairman.
