Chairman's Message
I'd want to begin by saying that by creating excellence in research and innovation and through our industrious endeavour in supporting healthcare, education and food scarcity in the remote parts of the country, we have shown our serious commitment to the nation for a better environment which has resulted in great success. As we stand tall on the firm grounds of our dedication, we simultaneously gear up to act more vigorously and touch new milestones in the future. We will continue to scale up our productivity and achieve our goals at the highest level contributing to the country’s growing economy that is sure to become a global superpower in the times to come.
Our synergy has catalyzed in fulfilling our corporate responsibilities through our persistent CSR activities. We are committed to help small organizations to achieve their goals and keep the environment clean and healthy.
The Union Budget FY 2023-24 was a great attempt aiming to reinforce a climate-friendly inclusive policy agenda; this will help India continue to be a preferred investment destination. The government has been giving a huge push to the infrastructure upgradation of our nation and an increase in spending on road and rail infrastructure is a testament to that philosophy. It will also perk up the economy, attract investors and make our country globally more competitive.
MSME’s are the backbone of any nation and to boost the MSME segment there has been a focused targeting in this budget by way of increased fund support and further reforms to make things viable for them. The budget is not only trying to address short-term issues, but also long-term structural transformation on productive expenditure, innovation in research and development, human capital, digitalization, sustainability, and a healthy nation. The government is keen on bringing about ‘ease of doing business’ and to this effect, a lot of complex legalities are proposed to be removed or simplified; this will attract more investments in industry and improve the economy, generating more employment. I am confident that the new budget will help fulfil the dreams of an aspirational society.
Besides creating new business models and employment opportunities, the national vision of a ‘Digital India’ will also create ample opportunities to produce innovative products and services. These initiatives will have a highly positive impact on the GDP of our country and create a strong base for the Indian IT industry. “Overall, we are very optimistic about the future of the IT services industry, and I am looking forward to the new opportunities that will arise from these initiatives."
To enhance the productivity of cotton, the Government will adopt a cluster-based and value chain approach through Public Private Partnerships (PPPs). This will facilitate collaboration between farmers, the state, and industry for input supplies, extension services, and market linkages. This will help the garment industry with security in raw material supplies. Apparel exporters are delighted for accepting their demand for reinstating the duty-free facility for importing embellishments like trimming, zipper, fasteners, buttons, lining material and packaging.
A significant 33 percent increase in capital expenditure to Rs 10 lakh crore -- 3.3 percent of the GDP -- thrust to fast-track infrastructure development, and the highest ever Rs 2.40 lakh crore for railways will translate into robust domestic steel demand, thus spurring private investments and job creations.
I extend my foremost gratitude and appreciation to our employees for their commitment and continued support. Their tireless dedication and industry expertise have contributed greatly to the achievement of the organization which in turn brings on to us added responsibility to work more diligently with further determination to touch milestones of greater success, tomorrow.