Raising several critical issues hurting growth and preventing opportunities for fair business practices, a veteran gifting industry professional, Mr Manoharlal B. Narang, elaborated on the changing traits, trends and challenges ahead, in a recent talk session organized by Giftex.
“We’ve all assembled here, courtesy an invitation of Giftex in the interest of the gifting fraternity,” he started off, later focusing on certain laws and practices apart from touching upon the broader situation as well as overall business scenario: “The world has opened up whereby tough competition is being faced from imported items. Also, there is tough competition due to worldwide recession. Again, the major chunk of our business has suffered a severe setback owing to some legal and extra legal regulations/guidelines in the pharmaceutical sector.
“Frankly speaking, the gifting trade does not have any official association or forum to promote our interest and fight as well as pursue for our legal rights,” he averred, suggesting that they could think of hiring the services of some legal and constitutional experts to pursue the fundamental right of doing business or profession in a rightful manner. According to him, due to wrong practices currently being followed by a few companies in the pharma sector like giving away exorbitant gift items including consumer durables, vehicles and foreign trips, lower end of the gifting industry or smaller players have suffered a lot. Ironically, these offerings have been termed as bribes to the medical practitioners.
Reaffirming that every citizen has a legal right to promote his/her business products within the parameter of the Constitution and that NO provision of law can supersede the Constitution, Mr Narang contended that small gifts, which are only BRAND Reminders, up to a certain limit say Rs 1000 or so, cannot be labeled as BRIBES, prompting the audience to think over the matter and pursue it vehemently.
Like-minded people can come together and jointly tackle the undue benefits derived by the customers due to cut-throat competition and undercutting among our fellow suppliers, he felt.
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