Chairman's Message
In a growing society, we are extremely critical of everything and forget to celebrate success. I strongly believe that if we celebrate success, you create another success story. With this note I wish all my colleagues of entire LNJ Bhilwara Group - A pleasant and a memorable end to 2019 and a positive beginning to 2020.
2020 will thus be the year when India has to revive its story domestically and globally. India has to ensure that its economic reforms translate into higher growth, investment to pick up, demand gets a boost and there is yet again, a virtuous cycle which makes India an attractive destination.
In the middle of second quarter, the government had announced a set of reforms with a view to boosting credit growth and ramping up investments. Though India’s growth outlook has weakened sharply this year, with a crunch that started with the non-banking institutions, spreading to retail businesses, car makers, home sales and heavy industries. Industrial output has dragged down by a sluggish manufacturing sector while the outlook for capital inflow remains positive, India’s exports could face headwinds in the event of sustained global slowdown.
The Commerce and Industry Ministry has prepared a blueprint to further improve India's ranking in the World Bank's ease of doing business index with a focus on six parameters, including enforcing contracts and starting a business.
The ultimate goal would be to develop an export competitive manufacturing base. The Delhi-Mumbai industrial corridor was largely about such a vision. We need to develop an enabling environment for such a base to develop – trade diplomacy, soft reforms in taxation & customs and support for Indian private firms going overseas.
The global slowdown in steel demand coupled with increased steel exports from China is expected to impact demand of electrodes. Steel prices also continue to remain under pressure and combination of these factors have resulted in significant correction of electrode prices.
In the end, I would like to say that we must recognise all good work and applaud every success. Even one good work done in a corner shouldn’t remain isolated. Our contribution to the welfare of communities and to build a most trusted company is a priority.
“Motivation is what gets you started. Habit is what keeps you going”
With best wishes
Ravi Jhunjhunwala