StB forum: Economic slowdown discussed by Mumbai print heads

The theme was the ongoing economic slowdown with a presentation on the economic situation in the Euro zone and its impact on the Indian economy by representatives from Yes Bank.The forum discussed the measures adopted by print CEOs to counter the slowdown.

The presentation by Yes Bank's Vikas Sharma, Vivek Kumar and Yuvika Oberoi examined the reasons for the situation in Europe. It touched upon the recent developments and the pending formation of centralised European banking authority to regulate the banking sector in EU.

“India also won’t be unaffected by the downturn in the globalised world that we live in,” said Iqbal Kherodawala of Printline Reproduction and India’s current account deficit, which is at an all-time high at 4.2% is testimonial to that.

Most printers who specialise in commercial printing have been hit by the slowdown - with one or two exceptions. While printers who catered to the packaging and niche sectors have registered growth or stable business prospects in their sector.

“Monitoring expenses, understanding and reducing costs will play an important role in surviving the slowdown,” added Kherodawala.Faheem Agboatwala, chairman of StB said, “Increasing the production capacity when it is not required is futile, if a machine doesn’t work 24/7 ... it does not make economic sense.”

Tushar Botica, Shree Arun Package said, “The packaging industry has been fairly unaffected by the economic downturn, though there is no growth in the industry; there is stability. I believe that plastic printing is a highly untapped sector - and is bound to grow.”The print CEOs who attended the StB forum felt the government needed to inject fiscal optimism into the economy.

For further information: stb@bmpa.org



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