Ranesh Bajaj of Vinsak comments about Budget 2020: The union budget looks positive and is widely proposing a good transformation in the individual tax structure. Definitely, some good initiatives are being taken for MSMEs, public sector banks, and financing which was much needed. Direct and indirect tax, specially GST and customs are being worked upon and we look forward to improvements for better. As far as the printing and packaging industry is concerned, nothing much has changed to celebrate or show concerns upon. We believe that the year 2020 already has the people’s expectations going high, and this should bring in the drive or the motivation within our industry too.
With organized retail and private label gaining traction and the government giving a boost to the home grown e-commerce with MSME portals etc., the demand for labels and packaging will surely see positive growth.
Flexible packaging has shown a considerable positive and upward trend and as far as Vinsak is concerned, the flexo presses range from Lombardi, including the Synchroline, the Invicta I1 and the new wider Invicta I2 with web widths of up to 1.1 meters that we offer should be seen to replace more and more gravure presses.
Apart from Budget 2020, we are confident in our line of products like, Iwasaki (TR2 and IF 330), SPG Prints (variLEX), Vinsak finishing equipment’s (USAR), inkjet systems (VIS1200K) and other auxiliary machines (table top re-winder, roll lifters, etc.) and consumables after all product and after-sales is also something that matters and we are committed to delivering quality.