I am glad to welcome you to the 3 Annual General Meeting of your company SAB Events andGovernance Now Media Ltd. Your trust encouragement support and fair criticism are whatgive us energy enthusiasm confidence and motivation to strive for betterment. Yourcompany operates into publication business vested into it on completion of the CompositeScheme of Amalgamation and Arrangement of the group during the previous year.
To give review of performance I would now like to highlight some key aspects. The lastyear has been exciting as your company's own magazine Governance Now has come up with pathbreaking stories and analysis that have been appreciated by bureaucracy industryacademia and thought leaders. The magazine has expanded its reach in many other areas. Themagazine Governance Now boasts wide circulation across the country and read by CorporateBFSI sector financial academic and public policy institutions Embassies JudiciaryCentre and State Government Departments State and Central PSUs and media to name some.The magazine is also available on stands at strategic locations across the country.
Your company has further organized conferences in the varied areas where centre andstate governments need to focus on. We have begun this year with Urban Cooperative BankSummit which has received a huge success where who's who of cooperative banking industryand corporate participated. The impact of the conference has given new movement to UrbanCooperative banks to further financial inclusion of the country. National Federation ofUrban Cooperative Banks and Credit Societies Ltd (NAFCUB) supported the conference whichwas attended by over 120 cooperative bank representatives from Maharashtra.
Next we organized 3 edition of our flagship conference PSU Conference and Awards 2015.The prestigious award honoured the efforts of Public Sector Undertakings (PSUs) that havebeen key to India's overall economic growth of the country. Key ministers from centrefelicitated the Public Sector Enterprises. The Conference witnessed the presence of topleadership of Public Sector Enterprises and Central Government.
According to Gartner the investments in the 'Digital India' initiative led by a focusto allow access of government services on mobile devices expansion on broadband andplanning for smart cities will be a stimulus for Indian government's IT initiatives.Under the Digital India programme all central government ministries and departments areexpected to extend their services such as health services education judicial servicesetc though a digital platform.
To empower the Government's plan and providing robust network infrastructure backbonefor Digital India Smart Cities and various modernization projects Governance Noworganised Smart Networks Conclave in Delhi. It has seen global representations and keycentral PSUs and government department.
During the year we have also organised second edition of our flagship event RailwaysReforms and Governance which was graced by Shri Suresh Prabhu Hon'ble Minister Railwaysand Shri Manoj Sinha Hon'ble Minister of State Railways. It has seen the participationof Indian and as well as international delegations including various embassies interestedin collaborating with Railways for modernization. As we know the role of Railways is nowmore than that of a transporter. It has a bigger role to play for the economic developmentof the country the conference focused on triggering Governance Reforms in Railways.
This is year we also focused on CSR for Inclusive Development. A proper balance betweenthe business objectives of the corporates and their CSR initiatives can create a win-winsituation for businesses and society. This theme was reverberated at the 'CSR forInclusive Development' conference. The Ministry of Social Justice and EmpowermentGovernment of India has supported the conference and also done the curtain raiser of theirofficial logo. Over 180 decision-makers from various PSUs and the corporate sector cametogether discussed possibilities and pitfalls of the country's new frontier of thecorporate social responsibility (CSR).
Accolades & Recognition
While various top media firms reported our initiatives and their impact Banksassociation and Ministries approached us for partnership to organise various conferencesand workshops for larger benefits. Our Special Correspondent incisive reportage on howtuberculosis and silicosis are silently killing people in a Jharkhand village (publishedin the December 1 issue of Governance Now) has won the prestigious REACH Lilly MDR-TBPartnership Media Award for 2015.
New Projects and Outlook
In the current year your company will focus on bringing Governance reforms in thecountry in line with the agenda of centre and state governments along with private sector.Seeing the interest of the state government this year we will increase our reach instates also. Following the last year success we will strengthen our presence in RailwaysPSU CSR and Banking sectors too.
Your company is also expanding its Digital Foot Prints by venturing into innovativedigital media. According to Ernst and Young the global consultancy major has forecastthat the industry would set to touch the Rs 200-billion mark by 2020 with the digitaladvertisement spend growing at 23-28 per cent. The number of smartphones would touch the520-million mark by then giving people access to the web. By 2017 the country will havemore than 350 million smartphones from 167 million in 2015. Low-cost phones and roll outof 3G and 4G broadband infrastructure would drive access to the web. This in turn woulddrive digital media consumption said Ernst and Young in its latest report Future ofDigital Content Consumption in India.
Governance Now enjoys very high digital outreach through its websitewww.governancenow.com Newsletter e-Magazine and Social Media platforms such as FacebookTwitter Linkedin Google Plus we are also expanding our digital footprints with newmobile friendly responsive website of Governance Now its interactive mobile app andGovernance Now Digital Channel which will use the video medium to report on storiesrelated to governance of all institutions and processes that are vital to public life inIndia. With the new project we aim to create new wave of transformation in the country.
Your large presence in this important meeting is the testimony of your strong supportand faith in us which inspires us to achieve newer milestones of success.
On behalf of the Board of Directors and the Management I would like to place on recordyour Company's sincere appreciation of the support extended by the partners Central andState Government and their agencies bankers and the continuing patronage and support ofall stakeholders.
With warm regards
Date: 22 August 2016