Opinion

Chairman's Message

Corporations have become one of most important driving forces in developing modern society, the backbone of the communities they belong to. To build a happy and harmonious society, it is very important for us to build a business model that keeps our customers and employees happy. We are sincerely committed towards our social responsibility, environment friendly and sustainable business practices.

The country is going through a tough time on the financial front and it will be a while before the situation gets to normal. The Government of India has taken several steps to ease out the situation and have also promised more steps as and when required, to helpboost the slowing economy, but the global headwinds are getting stronger and in today’s connected world India may find difficult to isolate itself from the effects of the global slowdown.

Demand and Investment for consumer durables have been subdued across advanced and emerging market economies as firms and households continue to hold back on long-range spending.

As has been highlighted during the recent visit of the Prime Minister to the US, there is a huge potential of trade between the two countries.

To encourage investments in India the government has proposed to create a single window for foreign investments and is working towards bringing down the cost of logistics. Many initiatives have been taken in this direction such as Sagar mala & Bharat mala road projects, Delhi-Mumbai freight corridor etc. This will help in reducing the travel time and increase the efficiency of logistics delivery systems.

We face impending challenges due to cheaper Chinese electrodes being sold into Indian market due to removal of anti-dumping duty on graphite electrodes. This would affect our sales and also increased imports of cheaper Chinese electrodes could impact our efforts towards increasing of our production capacity to 1,00,000 MT by 2021.

Demand for electric power transmission and distribution equipment in India is expected to rise by 8.2% per year by 2023. Hence, it is important for us to have a firm plan in place, cost efficiencies, performance, productivity etc.

With the strong belief and conviction, I can say that we will be able to overcome all the hurdles and Indian economy will again be on the high growth path.

With Best Wishes,

Ravi Jhunjhunwala