Opinion

Chairman Message

India’s national Covid-19 vaccination program has come a long way in the last one year - from shortage of shots to booster doses for all adults.  While India has already opened up all economic activities, ending all Covid restrictions, vaccine booster doses may prove to be an additional boost for the working population.

India’s development is going to be a big challenge. With Covid-19 showing signs of receding, business owners are expecting to get back on their feet and start recouping the part of the losses incurred by the pandemic. However, now the ongoing conflict between Russia and Ukraine seems to have thwarted their hopes as supply & trade disruptions could potentially impact supply chains and fuel inflation the world over. The conflict will have a negative impact on the economy. Our import and export industry has also been severely affected due to this. 

The market will also see a sustained period of higher steel prices, which means that consumers will end up paying more for steel products and goods made using steel.  This would impact the automobile, infrastructure, and other steel-dependent industries in a big way. 

The Indian textile industry is also witnessing many challenges owing to the disruption in shipments etc. impacting the overall turnover of Indian Textile brands.

India’s IT service firms have decided to adopt a wait-and-watch approach to the crisis and have activated their plans in Eastern European countries. 

However, in the coming years, we do hope to witness a huge growth potential in our business and also aim for even a higher production at all our facilities.

Loyal and dedicated employees like you all are the foundation of a successful company. During the nationwide crisis, we must support each other. 

I wish you all good health and continued hope for your contribution to our success. 

With Best Wishes

Ravi Jhunjhunwala