We should handle the situation bravely, Vimal Mehra on demonetisation

It’s been a month since the government decision to demonetise the currency notes of Rs 500 and Rs 1,000 denominations. The effect of the decision is palpable across industries. As the exchange of paper currencies go down, in a recent development, the government seems to be encouraging cashless transactions, via credit and debit cards and internet and mobile banking. As queues in front of ATM kiosks across the country remain long, PrintWeek India asks industry leaders about the long-term

07 Dec 2016 | By Rahul Kumar

Vimal Mehra, president, All India Printing Ink Manufacturers Association

What kind of impact of the decision do you see on the printing ink and consumables industry?

The initial impact is negative. Although the masses have approved the move, lack of new currency availability has resulted in lower consumptions and thus low demand for printing.

Small traders and equipment manufacturers deal in cash most of the time. How will the decision influence them?

In the short run, all traders/ manufacturers will try to find other routes to do business, but will find that all holes are blocked. They will have to bear this situation for at least the next three-four months.

Was the industry ready for such a challenges?

No one was ready for such a challenge. But we should handle the situation bravely. This is the time when each one of us ask ourselves, ‘what can I do for my country?’

PrintPack 2017 is just two months away. Will the decision affect the show?

Exhibitions are planned well in advance. By now, probably all the stalls are sold out. So the impact on stall booking may be minimum, but the participation/ footfalls may get impacted.

Being the president of AIPIMA, what are your suggestions to printing ink and consumables industry and the central government?

No business in India is free of corruption and unhealthy practices. I would urge the entire printing fraternity to get together and pledge to do away with these bad practices. Let us all stand up and inform our colleagues and business associates that ‘I will neither corrupt or get corrupted.’