Chairman's Message
Firstly, I would like to thank you all for what you have done already to weather the ongoing corona crisis and helped the company to cope up with this situation. The year 2020 would be remembered as the year of a deadly pandemic that severely impacted our health, businesses, economy and communities across the world.
The second Covid wave has put the focus back on the economy and how it will affect the economic growth as well as the employment scenario, but as we say – “There is hope after despair and many suns after darkness”, similarly the Indian economy has started showing optimistic signs of recovery. Most of the agencies have forecasted double digit growth for India in the coming times. This auger well for our nation and its people’s prosperity.
India’s first“paperless” Budget 2021 looks hopeful and empowering as it focuses on the revival of the economy with a “Minimum Government, Maximum Governance” approach. The overall budget is reassuring, positive and has come with encouraging announcements for the healthcare, infrastructure, innovation ecosystem, support for the MSMEs, skill development, opportunities for youth and education for all etc.
Economic revival is expected to continue unabated as the largest vaccination drive is underway in India. Since, now we have the experience in dealing with the Coronavirus, the roll out of vaccine and by following strict Covid protocol by the people, the impact of the recent surge in cases will be much reduced and mortality rate can be kept at the minimum.
There has been a major thrust from the government towards the “Atmanirbhar Bharat” in order to promote self-reliance in manufacturing and India becoming a manufacturing hub for global companies. This will lead to more jobs creation and make our country less dependent on others. To help achieve this and with the aim to promote domestic manufacturing, the customs duty rates have been increased on certain imported goods.
In a bid to promote the textile industry, a Mega Investment Textile Region and Apparel Park (MITRA) scheme has been introduced for creation of world-class production & trading facilities in the coming years.
We look forward to continuing to serve and support our dedicated employees who were with us in our incredible journey and built a most trusted company for a brighter and stronger future together.
With Best Wishes
Ravi Jhunjhunwala