Home » Depreciation of Rupee hits port development: Vasan

Depreciation of Rupee hits port development: Vasan

Depreciation of Rupee hits port development: Vasan

The Union Shipping Minister GK Vasan recently said that the falling value of rupee will stro­ngly affect port development works in the country and its shipping industry. The present economic crisis in India has affected employment opportunities of even cad­ets trained at the Shipping Corporation of India (SCI)-run Maritime Training Institute (MTI), the Minister added.

The Minister was inaugurating south India’s first branch of the Maritime Training Inst­itute of the SCI Mumbai, in Thoothukudi in Tamil Nadu on September 7. Cost of port development activities in all 12 major ports has been escalated due to the continues fall of rupee, Vasu said.

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