INNOVATION: TOWARDS GROWTH IN ECONOMY & JOB CREATION
The era of protectionism seems to have just begun in the world's largest economy withchange of guard amidst fragile global economic outlook. This development has not justshattered the dreams of many aspiring IT engineers who want to build careers in the USbut has also rung alarm bells in the world's largest IT conglomerates.
On the other hand the rising preference for E-consumerism has changed the dynamics ofglobal business. The model for business acquisition has witnessed a paradigm shift withthe largest E-commerce company starting to spread its wings. Though technology is seen asthe main apparatus of the modern economy innovation in technology has been the catalystthat spawns and facilitates development of newer and more robust business models.
While E-consumerism has taken rapid strides in recent years it is not without its aws.With such fast changing dynamics in the business environment there is a need forcontinuous innovation in technology for growth in economy and creation of jobs.
Historically Internet and Technology has played a defining role in the manner in whichE-consumerism has shaped the global economy and created jobs. The IT revolution was thebiggest creator of jobs at the beginning of the 21st century and now Intellectual Property(IP)-driven innovation firms are recognized as the biggest employers. Knowing that the newmillennia belongs to innovators with technological supremacy being a pre-requisite it isre-assuring that your Company is on the right trajectory for the next big leap.
PATH WE CONTINUE TO TREAD
Your Company has a glorious track record of creating IT-driven innovations and buildingworld class institutions over the last two decades not only in the country but acrossthe globe. Your Company has a robust technology business in which it is the pioneer andeven today continues to hold the no. 1 spot. Every venture that has been rolled out of theGroup has been no. 1 in India and no. 2 in the world. Your Company also takes pride inholding the record of paying 100% dividend quarter on quarter.
The mainstay of your company continues to be its strong balance sheet stronginfrastructure strong human capital and an even stronger resolve to create value for itsshareholders. Your Company today is virtually a zero debt company unlike other majorcorporates and has created over 1 million jobs through its ventures directly andindirectly without making use of any tax incentive loan or favour from the government.The Group has paid more than Rs 2000 crore approx. as tax.
Though your Company has been facing legal challenges due to payment default in one ofits subsidiaries we are confident of coming out of this and we have full faith in andrespect for the judiciary. I am confident that Mr. S. Rajendran who has taken over fromMr. Prashant Desai as MD & CEO will steer your Company out of the present challengesand towards growth.
In line with our Prime Minister's vision and initiative of Digital India StandupIndia Startup India and Make in India 63 moons is not just a name but a new ideologyadopted by your Company. The JS Innovation Lab (JSIL) a new lab incubated by the Groupis set to be the hub for IP creation and center for innovation. With the rightopportunity it is the endeavour of your Company to again sculpt the future withinnovation and technology in the emerging Digital India space through JSIL and to createanother million jobs. With JSIL having sketched the roadmap across 12 industrysegments for creating 108 digital disruptive and patentable innovations 63 moons'is poised to create new digital ecology to full scale commercialization of innovation.
Chairman Independent Non-executive Director
63 moons technologies limited