Editorial

Best wishes on Baishakhi (also known as Rongali Bihu, Bikhauti, Maha Vishuva Sankranti, Jur Shital, Ugadi, Puthandu, Vishu in different parts of India )! The traditional solar year marks the harvest is complete and crops ready to sell, representing a time of plenty for the farmers and consequently in the market .We hope for a flow of finance and growth of overall market.

Recently fraud in the Banking sector, Punjab National Bank, has put pressure on whole in the industry. The state controlled section of India’s banking sector continues to be a major problem for policy makers. Its slow credit growth delaying in private sector investment is crucial for higher economic growth. It is also worth noting that many of the banks are over staffed or having employees with low productivity is poor managerial control that leads to fraud like Nirav Modi scam in Punjab National Bank. Everyone wonders why and how these types of scam can go for such a long time undetected. Where were the auditors? What was the internal audit doing? Not even a single employee junior or senior raised an alarm. How? Why? Taxpayer’s money should be utilized for general public and not to any individual, with or without political influence. We will have a short look on the scam in this issue.

After note bandi and GST roll out we have seen a debate in the industry in the whole. A recent survey announced the happy growth in the last quarter of October- December 2017. Strong manufacturing and investment activity was shown in the industry. We are now more comfortable with GST. Ease of working is the most valuable aspect of GST. We are now investing our valuable time in our business activities rather than these official works. And a real competitive market is going to emerge.

The great show of India Wood exhibition in Bangalore gave us the opportunity to expose our skills and development in the field. The arrangements were really praise worthy. Kudos to the organizers. Technology has empowered industrialists via minimum government, maximum governance. As we are looking in the future where maximum new manufacturing units with extended capacity are in the row, the shortage of man power will be the immediate impact on the industry. Hope we will utilize the technology to our best known resources as shown in the expo. A brief report on the show is in the issue.

And, Congratulations to Sri Naresh Tewari for being elected as a member of Research Advisory Committee in the board of Indian Plywood Industries Research and Training Institute, Bangalore.