In what way did Dr Manmohan Singh benefit the industry?

CG Ramakrishnan
Executive director, TechNova Imaging Systems

1947 was the year of political independence for India. 1991 was the defining year of economic independence for India. Dr Manmohan Singh was the architect and executor of economic reforms that unlocked the true economic potential of India. The offset printing plate industry benefitted from Dr Singh’s industrial licensing and trade policy reforms, with large manufacturing capacity expansion and new machinery imports, facilitated by the abolition of laborious licensing procedures.

Gautham Pai
Executive chairman, Manipal Technologies

Dr Manmohan Singh made a lasting contribution to the print and packaging industry through his leadership in the 1991 economic liberalisation. By reducing import tariffs from around 70% to 50% and encouraging foreign investment—which rose from USD 73 million in 1991 to USD 4.1 billion by 1994—he opened the doors to new technologies and materials. As a result, printers and packaging firms could innovate more quickly and expand their global reach. His reforms, highlighted in the 1992–93 Economic Survey, laid the groundwork for a more competitive and vibrant industry.

Thomas Abraham
Managing director, Hachette India

Alongside liberalisation that he was known for came a whole spirit of liberalism and support for reading and books as a very necessary cultural vehicle of learning, debate, entertainment and record of our times. I was involved in the release of a festschrift to him during my OUP days; and subsequently during my Penguin days. There were a couple of book launches at the PMO, and this attitude was clear to see.

Vinay Kaushal
Director, Provin Technos

The accidental finance minister and later the accidental prime minister was pivotal in spearheading the liberalisation process. He understood what is needed for India's growth chart. This fuelled growth of all sectors opening doors of new business opportunities for the printing sector. End of license raj made business more manageable, reduction of import duty made quality equipment import more affordable and rupee devaluation led to multi-fold increase in exports giving many more opportunities to the printing sector.