At the outset, I extend my hearty greetings to all of you and your family members.
As you are aware, the global economy continues to be sluggish post pandemic era due to dearth of demand and Ukraine war, which continues unabated with no end in sight. High inflation and depressed consumer sentiment in many advanced economies like USA, EU etc.has further aggravated the situation. In a few international forums like the “Plenary Session on Inclusive & Adaptive skill for Sustainable Ecosystem” of the B20 International Conference on Chemicals and Petrochemicals held on 24th May, 2023 at New Delhi and ITMA Conference on 8-14 June 2023 in Milan, Italy, wherein I participated at the instance of the organizers, this issue of global recession was debated at length. It is hoped that the situation would improve in the second half of the current fiscal.
Another international event organized during the last few months was China Interdye 2023 Expo by China Dyestuff Industry Association, China Dyeing and Printing Association and Council for the Promotion of International Trade Shanghai at Shanghai on 26-28 July 2023 after a gap of two years due to pandemic. I am happy that some of our members had acquired stalls in the Expo. During my interaction with some of the senior officials of CDIA, it was gathered that the Chinese economy is also facing a difficult phase in the overall global recession aftermath COVID 19 coupled with the prolonged Ukraine war.
The colorant industry is also going through a bad patch in the present gloomy global economic recession for want of demand and dearth of repeated orders. There is no clue as to when the situation will improve. It is for each one of you in this context to devise suitable strategy, so as to reduce the likely losses and cautiously proceed so as to sustain in this chaotic situation.
Despite the slowdown, I am happy that many of our units had submitted their applications for DPMAI Awards for 2022-2023. It is noteworthy that some of them had even excelled during the difficult phase. They deserve our full appreciation for the good show. The Awards Committee was also very considerate while selecting the awardees, who had performed exceedingly well.
On the Association front, I would like to inform you that many vital issues concerning the colorant industry like Rationalisation of Deep Sea Discharge Norms, seeking extension of time for implementation of Quality Control Order for certain products, mitigate the hardships of Exporters due to frequent changes in relation to Import/Export by Advance Authorization Holders etc were represented to the authorities for necessary redressal. I am very happy to inform you that the senior officials at DCPC and other Govt. agencies have assured me that the remedial measures, wherever possible, would be favourably considered by them to help the industry to move ahead without any interruption and bottlenecks.
Our Association is supporting the forthcoming ChromaTexChem Expo 2023 to be held in Mumbai on 19-20 December 2023 as in the past.
Before I conclude I once again extend my best wishes to all of you.
Janak Mehta
