Opinion

Chairman's Message

India has emerged as the fastest-growing major economy in the world because of its robust democracy and strong partnerships. It is expected to be one of the top three economic powers in the world over the next few years. With an improvement in the economic scenario, there have been investments across various sectors. Foreign companies are setting up their facilities in India on account of various government initiatives. The aim is to boost the country’s manufacturing sector and hence would increase the purchasing power of an average Indian consumer, which would further spur growth, thus benefitting the investors.

Textile and apparel industry in India has strengths across the entire value chain from fibre, yarn, fabric to apparel. Exports are recording healthy growth and our government with its current geopolitical situation is trying its level best to maintain the right balance so that farmers and the industry both are mutually benefitted.

Our IT companies are one of the biggest sectors that contribute to India’s economic growth. With the shift to remote working the IT sector enabled and helped the other sectors to operate in distance mode. Furthermore, new start-ups in this sector are opening which is boosting our economy as well.

The Russia-Ukraine war is impacting the stability of the global order. The war has come at a difficult moment for the world economy, particularly when the pandemic appears to be fading away slowly. India too has felt the ripple effects with growing commodity prices. The war will hinder global growth and aggravate inflationary pressures, creating disturbances and challenges in our country. Disruptions in world trade, supply chains and investment will curb growth in developing countries and add to price pressures.

Like it is said that in any organisation it is the employees who make an organisation and a happy employee will always make a successful organisation. Creating a culture of happiness leads to greater success for companies. Employees that have purpose and feel a greater sense of engagement are greater assets to a company's future. Happiness leads to greater productivity, less absenteeism, lower health care expenses and greater retention.

So, reaching out to all of you, reassuring and connecting, gives me immense pleasure and I truly believe that your excellence drives our success.

With Best Wishes

Ravi Jhunjhunwala