During the commissioning of the indigenously built guided missile destroyer INS Kolkota(cover photo) our Prime Minister Shri Narendra Modi gave our country a new mantra"Make in India". This is an indigenization mantra whose time has come. This is astrong signal by the Chief Executive of our country to the Indian industry and to theworld that rather than just importing technology and products it is time for technologyand products to be created in India. To take this forward the new government has madepolicy changes in Foreign Direct Investment (FDI) for the defence sector the investmentlimit is raised to 49% with emphasis of "Make in India".
This mantra of indigenization is not new to Aftek where Make in India hasalways been the guiding principle through out its entire history. Your companys longhistory of 27 years has since inception shown a strong commitment for creating importsubstitution in the field of information technology. The technology products and solutionwere always in the "cutting edge" winning accolades in India and abroad. Thus"Make in India" is in your companys DNA.
In this annual report technologists and experts from Aftek have discussed and sharedwith you the challenges and issues one needs to overcome while making the "Make inIndia" mantra a reality. The Technology and Products thus created in India"World Class" with great potential for import substitution and Exports. In thefollowing pages various verticals like Defence Digital Home and Intelligent TransportSystem will be articulated.
In the last Annual Report your company had said re-structuring activity was being putin place whereby all the liabilities where been mitigated by the sale of certain fixedassets. Secondly two of its associate companies in the area of defence and digitalhome security were being proposed to be integrated in the group. I am happy to announcethat your company is in the final phase of execution of these plans this should happen inthis financial year. Surely it has taken a long time than expected but the challenges andthe impediments where such that execution time line were not fully in the companiescontrol.
With the euphoria and new confidence that has come with the new governments drivefor getting business done your company looks at the future with a great optimism.