About this stamp
Vasantrao Dempo
India Post issued this ₹5 stamp on 4 March 2016, his birth centenary, for Vasantrao Srinivassa Sinai Dempo, the Goan industrialist who built the Dempo group. Vencatexa Sinai Dempo, known as Vasantrao, was born on 4 March 1916 to Satyabhama and Srinivassa Sinai Dempo and grew up in the family home at Calapur (Santa Cruz), studying Marathi, Portuguese and English. The Dempos had long been landowners, shippers and traders.
Iron Ore and Japan
Foreseeing the potential of iron ore mining in Goa, he acquired mining concessions in the late 1930s and early 1940s and, with his brother Vaikunthrao, formed V. S. Dempo & Co. in 1941, which became the region’s leading mining concern and a lauded export house. He acquired the ore-rich mine at Bicholim, Goa’s largest, and, seeing the risk of relying on the Suez route to Europe, turned east, beginning exports to Japan and to Nippon Steel in particular, a relationship that lasted more than half a century. He invested in transhipper vessels and steered the company through the naval blockade of Goa before its liberation.
The stamp was designed by Nenu Gupta; Security Printing Press, Hyderabad printed 401,200.
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