Indian Pharma Machinery Manufacturers' Association (IPMMA) organisea1 a seminar on Implications of Recent Amendments in Service Tax on March 19, 2005 in Mumbai to understand the complexities of service tax. The one-day seminar also discussed Exim Bank's role in promoting International Trade

The event was Indian Pharma Machinery Manufacturers' Association's first seminar of the year 2005. Here is an excerpt from the speech of Mrs. Bhavna Shah President, IPMMA.

"Last year was a very good year for the pharma industry and ioday pharma people from all over the world are looking at India for their expansion. India has taken up the challenge willingly and the Indian government realizes the need to support the industry and is prepared to do everything it can to boost the industry.

Pharmaceutical Machinery is the backbone of this industry and it is time we show our strength to the government. As a first  step, we have taken membership in FICCI. They have agreed to represent us in the government provided we give them the data reflecting the strength of our industry. We have appointed Global Pharma with the job of collecting this data. It is my
sincere request that everyone readily give date so that we are able to give required information to FICCI and we are able to get due recognition and involvement in the government policy making.

As you all know, IPC Calcutta exhibition was a great success. We worked very hard last year with IPC to make sure that a good number of visitors come to the exhibition. you can see that if we work as a group we can make our voices heard at such exhibitions. If everyone agrees we can work out with IPC in a similar way for the Hyderabad exhibition. We can make sure it succeeds.

As you know service tax is given a lot of importance by the government in view of the revenue earning potentials. Due to its complexities we all have many doubts. So to understand the implications of the tax provision we decided for this seminar.

The second part of the seminar is about enhancing our export through Exim Bank. Exim Bank in addition to financing the export, does export marketing and their pre and post shipment rupee credit is very useful to exporter.

We have eminent speakers for both the subjects to educate us and clear all our doubts. Thank you once again on coming to this seminar and I hope you gain much from it.