All India Rubber Industries Association

From the President's Desk

Kamal K Chowdhury
Kamal K. Chowdhury

Dear Readers,

A new month is now with us; the month of the flowers, the fifth month of the year 2017 i.e. May. Each month of the year has stories to tell and ‘May’ is an outstanding one! It is named for Maia, the Greek goddess of fertility. May's birthstone is the emerald which is emblematic of love and success. May was once considered a bad luck month to get married. There is a poem that says "Marry in May and you'll rue the day". The United Kingdom celebrates May as the National Smile Month. 1st May is celebrated as Labour Day mainly in the socialist countries. So let’s welcome May 2017!

It makes us feel happier that the first of the 2017 series of the National Rubber Conference (NRC) of our Association is scheduled during 5 – 6 May, 2017 at Le Meridien, New Delhi. The Conference themed “Make in India – Import Substitution and Product Innovation” is aimed at raising the spirits of our members, helping them enrich their knowledge and create a path to business excellence. Undeniably, what makes a nation a true economic powerhouse in the long run, is the quality of its manufacturing and services sectors. In this sense, the ‘Make in India’ initiative is important and its success, imperative. As a vital component of ‘Make in India’ drive to build things here and sell everywhere, India’s Rubber industry is well poised. Voila, we will take our rightful place as the world’s factory alongside China.;

World Economic Outlook – IMF update: After a lacklustre 2016, global economic activity is set to pick up in 2017-18 – 3.1%, 3.4% and 3.6% in 2016, 2017 and 2018 respectively. Growth in emerging market and developing economies may continue to drive the global growth projections: 4.1%, 4.5% and 4.8% in 2016, 2017 and 2018 respectively. Advanced economies are projected to make small steps up: 1.6%, 1.9% and 2% in 2016, 2017 and 2018 respectively.

Risks: With the shifting landscape, risks remain significant and difficult to predict – uncertainty about US Policy, inward looking policies and protectionism. Policies can enhance growth if they promote: sustainable and inclusive growth, cooperation and coordination.

IMF expects India to grow at 7.2% in FY18. India’s growth estimate for FY17 has been raised to 6.8 per cent from 6.6 per cent. This is moderately higher than China’s projected growth rate of 6.7 per cent in 2016. Consumer sentiments index: In the meantime, as per the data available on 25th April, 2017, India’s consumer sentiments gained 0.18 percent to stand at 99.30. This growth was driven by the improvement in the index of current economic conditions, which rose 0.47 per cent to 95.95, while the index of consumer expectations remained steady at 101.45.

Regards and best wishes!

(Kamal K. Chowdhury)