The world economy appears to be moving forward again. The stimulus packages in USA and Europe appear to have worked and the big discussions from now on will centre on when is the best time to withdraw them. However it is best to move cautiously since an economic revival also needs time to stabilize.

Speculation has already begun on how the budget will unfold. By the time you read this issue, the budget will have been announced. In case the Goods and Service Tax (GST) is announced, the sweeping tax reforms that will accompany the implementation of GST will need a lot of adjustment  from  the  business sector. Yet there is no surety  that everything is in place for this major step since the Centre & the States have still  to come to some agreement on important issues. There has been a lot of  active discussion everywhere, including at  the Chamber, where we have organised talks by experts. In fact all information is now available for us to plan the impact of the  CGST or SGST on our products and services.  Hence its best to use this information to fully understand  how GST will apply to  various elements in  the supply chain and the effect it will have on  the pricing of our products and services.

News coming in from various quarters indicate a stagnancy in tourist traffic. Yet that has not stopped bold initiatives being taken to stimulate demand for a holiday in Goa. Swiss International has just announced Goa as a scheduled  destination with a flight from Zurich to Goa. It is a good strategy because Europe has been the biggest single foreign market for incoming tourist traffic to Goa.

Retailers and  traders are an important constituent of the Chamber and any activity on that  front by our Retail Committee  gives the Chamber  a lot of visibility in the market place. The ‘Shopping Festival’  which was organised by the Goa Chamber during the International Film Festival of India (IFFI) should have been covered in the earlier issues and though late, a good event like this needs mention in this issue.

Due to tourism our focus has been on sea and land but sailors like me who venture out into the rivers  of Goa know the beauty and  immense economic and development potential of our inland waterways. Unfortunately the waterways are overexploited for cargo movement and under explored for ferrying and commuting services which would  avoid surface transport congestion; and for activities such as Wind Sailing and Water Sports that would have attracted more tourists into Goa. Also due to wanton misuse and under maintenance we are finding artificial sand banks that have been formed  due to drop out of waste and tidal silt. This  has seriously affected smooth navigation through the rivers. The Inland Waterways Authority of India (IWAI) was formed  in  1986 for the development and regulation of inland waterways for shipping and navigation. We had two senior  Government  Officers from IWAI who visited Goa and gave an  overview  of  the organization;  and  also presented the   benefits  of  declaring the Rivers of Goa as National waterways. We must not forget that we are endowed with excellent waterways and unique bandhs along our rivers which have been built with the wisdom of our ancestors, protecting our rice field for centuries. It is now our responsibility to maintain them and this should be reflected in any future policy decision.  It was one of the most participative sessions we have had, with the media in full attendance.

As you have already seen, we have changed the look of the GCCI bulletin from the January issue with a new cover design , more color photographs and a greater emphasis on visual appeal to encourage more intensive  reading of the bulletin. We need your feed back and solicit contributions for the bulletin.

We have also reproduced an article on Bihar from ‘The Economist’. When a respected international magazine writes about Bihar’s remarkable recovery under Nitish Kumar, it is something all Indians should be proud of. A state which was dismissed as a hopeless case is turning around and not just economically. It is becoming safer, less violent and showing the rest of India  that good governance can deal with any issues in a state, effectively and in a timely manner.

Cesar Menezes
(President - GCCI)