The year that went by has been one with tumultuous developments both within India as well as globally. While the Asian economy (barring Japan) continued to grow, the rest of the globe continues to be sluggish. The financial position of many of the European economies has caused quite some concern, as also the political turmoil in the Middle East. Rising commodity prices and inflationary trends in many countries including India have emerged as challenges in the quest for growth.
It is my belief, that despite the high levels of inflation, India continues to be rather well-positioned to achieve continued economic success and growth in this very challenging environment. The demand on Infrastructure, urban development requirements, and measures promised by the government towards improving the rural economy as well as initiatives being taken by the government in ensuring financial inclusion at all levels will generate sufficient investment and propel growth.
Your Company is again well-placed to benefit from the opportunities that the Indian economy will continue to offer. The product offering from your Company is geared to meet the demands that a growing economy will create. Your Company places great emphasis on product quality and believes in using up-to-date and appropriate technology at all its facilities. Another area of focus for the coming period is in the expansion of network and reach, specifically in the North and North Eastern regions of the country, adding Distributors and Dealers to make further inroads in these markets. Your Company believes that people are its best assets and ambassadors, and continues to invest in talent enhancement.
As we embark on a new financial year, I look forward to your continued support and encouragement in taking your Company to greater heights.
With best wishes,
P. P. Chhabria