At the recently concluded BAUMA CONEXPO INDIA at Gurugram, I had the opportunity to listen to industry voices on the impact of demonetisation, the new monetary policy announced by the Government and the upcoming GST regulations in the country. Most have accepted demonetisation as ?fate accompli? and taken it in their stride to manage the change. Most equipment suppliers opined that demonetisation did not have any negative impact on their business as they did not have significant cash transactions. However, manufactures having substantial business dealings with realty sectors were quite disappointed in terms of business slowdown, unscheduled stoppages of ongoing projects and high outstanding of collectable money from their customers, who blamed only demonetisation for this predicament.

Currently, they feel disappointed from the monetary policy with regard to zero reduction in interest rates. However, most term is temporary and strongly believe that owing to induction of a large amount of funds (in excess of several lakh crores) into the banking system, it is only a matter of a short time of say 4-5 months to witness major relief in other forms and it will be good for their business.

The entire industry is eagerly waiting for on ground implementation of GST regulation pan India. They are able to quickly recount the benefits that will follow like rationalised interstate goods movement; reduction in number of storage facilities and related management costs but above all, they expect lowering of end cost to their buyers. Some expressed caution to wait and watch the final version of the GST bill before celebrating the good news.

We wish all patrons of Equipment India A Very Happy and Prosperous New Year 2017.