Positive impact in the long run, Sandeep Zaveri 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

Its almost a month now. What kind of an impact you do see on the printing industry?

Yes, definitely there is an impact. Our sales have gone down drastically.

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

In the long run, the move will have a positive effect on the industry, as cash usage will reduce and balance sheets will get stronger.

Was the industry ready for such a challenge?

Of course, the industry was not ready, but it is a great move for the progress of our country. It’s a matter of one quarter for everyone to get used to it as a system. Hopefully, the decision to reduce corruption across the board. 

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

I guess it should not really matter.

Being the president of LMAI, what are your suggestions to the graphic art industry and the central government?

I would suggest the central government to look at systemising the needs of SSI units and to look at reducing corruption.