February 2021 Print Bulletin
Dear fellow print professionals,
First of all, we must request you all to take all the necessary precautions to protect yourself and others around you from COVID-19. Yes, vaccination has begun. Its pace is very slow. It will take months, possibly a year, until a majority of us are vaccinated. The current rising numbers in Mumbai-Thane-Navi Mumbai region and Maharashtra’s various pockets suggest that the COVID-scare is real for now. Covering nose and mouth with mask outside the home and frequently sanitising hands are the most basic precautions. Let us all be responsible and demonstrate such responsible behaviour as an industry. Because the fears of localised lockdowns are a reality, and we are not in a position to combat any further disruptions to our businesses.
Let us now take a look at the budget speech and the Finance Act, 2021. Much has been said in the speech, and the period leading up to it about ease of doing business. However, our life will get tougher from April 1. ITC allowance is now dependent on suppliers’ GST compliance. Many EXIM policies aren’t clear; they need more minute work to balance Atmanirbhar Bharat and enhance our exports. Make in India, and Atmanirbhar Bharat are fantastic ideas indeed, but they need long-term, in-depth planning to make them successful for India’s trade and industry. Fuel prices are sky-high exactly when the logistics costs are breaking all the records.
Moreover, the Government hasn’t yet come up with duty drawback revisions. All of these actions, or lack thereof, are hampering ease of doing business. They are making it even more challenging for the trade and industry in India to survive. Leveraging India’s potential for export markets seems a distant dream for the moment. Rest assured, we are doing our best with AIFMP to engage the Government agencies and authorities to explain our issues and find solutions.
In these challenging times, that may continue for a year, let us get our basics right. Let us focus on our costs and control them better. We can be as lean as possible to endure these challenges. We can upskill and multi-skill our people to retain them while diversifying their roles to meet the market challenges. Collaboration and working together is an excellent approach to utilise our world-class installed capacity as an industry. Undercutting each other and indulging in the unfair competition will sink us all.
Let us not lose our focus – we need to survive as a business and as a business ecosystem. We need each other with our specialisations and expertise. We need our suppliers and vendors to bring us the cutting edge technologies. And, most significantly, we need our people by our side.
When it comes to education, both your Associations are giving you multiple opportunities through curated webinars; BMPA, for example, has announced a session on March 12 with Prof. Boman Moradian. We hope to see you attending this session.
Another significant step is the recent launch of the World Print Hub by MMS. You will read more about it in this issue. It is truly a world-class platform developed for our industry. It encompasses social and business networking, learning management, and problem resolution through a variety of features the platform offers. We genuinely believe it is a dynamic portal that we must make the most as an industry because the more we engage with it and participate in creating content, the better it will get for us all. Visit WorldPrintHub.com and sign in as a member.
As we conclude this month, let us remind you once again that we are with you as your Associations. Between us, we have many avenues and programmes to benefit you as members. You can reach us with your suggestions, feedback, and queries. We are here to support you.