| A globalised world with various uncertainties and rapidly changing scenario brought to the Indian economy opportunities and challenges simultaneously. The economy is growing, but a number of adverse features are apparent and seem to be here to stay, such as persistent and stubborn inflation, unprecedented higher commodity and all other input costs, which are impediments to industrial progress. Though the Reserve Bank of India has adopted tighter monetary policies to contain or reduce inflation, this has correspondingly resulted in hardening interest costs, which is another burden that industry has to cope with.
The emphasis on addressing structural concerns, such as weak supply chain linkages and shortcomings in the marketing of commodities, is expected to provide long-term solutions for sustainable growth of the industry in future.
The continued thrust of the Government on improving infrastructure (which lags far behind what our country needs and what is available even in developing nations) and promoting education at all levels is expected to provide a significant impetus to the growth of the cement and paper industries, which are two major businesses of the company.
I would like to extend my gratitude to all our stakeholders, including customers and the staff members, for their unstinted support in shaping the performance of the company.
– B. K. Birla, Chairman |
