While 2016 saw a slower global economic growth than expected 2017 seems like a year ofhope with World Bank forecasts pointing towards stronger growth. Advanced economies aswell as emerging markets and developing economies are expected to see considerable growthdriven by pickup in manufacturing and trade rising confidence favourable globalfinancing conditions and stabilizing commodity prices.
India has emerged as the fastest growing major developing economy in the world and hasalso surpassed China on the list of countries with ease of doing business. Indian economyis expected to grow at a rate of anywhere between 6.75% and 7.5% in FY 2017-18. Stronggovernment reforms and Reserve Bank of India's (RBI) inflation focus supported byfavourable global commodity prices are factors that are pushing the country towardsaccelerated economic growth.
The Government of India is making huge investments in infrastructure and manufacturingunder the 'Digital India' 'Make in India' initiatives and 'Smart City' projects. Thesealong with the large number of projects in public and private domain have opened upimmense opportunities for our networking and surveillance solutions.
In FY 2016-17 there was a slight dip in our performance. D-Link India's standalonerevenues from operations for the year was Rs. 6966.42 million. Profit before Depreciationand Tax amounted to Rs. 254.68 million while net profit stood at Rs. 158.55 million.
Globally we have partnered with Microsoft to provide 'Super Wi-Fi' to rural areas.Engaging technology that reaches a wider audience this initiative aims to be thedevelopmental platform for many under-developed regions across the world. At the sametime we also partnered with Google to provide automated home assistance to connectedhousehold through Google's voice assistant. Such collaborations have widened our area ofservice encompassing every segment from rural areas to urban connected homes.
As the Indian economy grows data penetration is on the increase especially in therecent years with many new initiatives and reforms being introduced in the private andpublic sector. We see numerous opportunities and firmly believe that the future years willadd new dimensions to our business.
In line with the Government's vision of Digital India we have announced a detailedplan as a guideline to developing Smart Cities by smart network that ensure economicsocial and environmental sustainability. Our efforts in working with the Government willhelp improve that quality of life of residents and provide a smart energy efficient andreliable way of living.
Encouraging people to live greener and smarter we aim to be the forerunner inproviding wireless infrastructure city surveillance and fiber connectivity to enhancecity management and public safety. Our goal is to provide seamless internet experiencewithout interruption.
To excel and emerge as the market leaders in the sectors that we serve in we believein our passion to innovate. This gives us an edge over the competition as we provide costeffective solutions and lead the transitions that take place in the market driving growthfor our clients in the digital space.
Looking ahead we aim to capitalize on the lifestyle networking device segment whichhas seen a huge surge in demand.
As more and more users become aware of IoT devices and their applications in homeautomation along with increased connectivity being made available in Tier-2 and Tier-3cities we aim to expand at a faster pace riding on our range of mydlink cloud enabledproducts. Adhering to this our 'connected-home' partnership between D-Link's subsidiaryTeamFI and India's Reliance Jio will explore solutions for home surveillance through IPcameras and video analytics and for smart homes through IoT sensors and actuators dataanalytics and machine learning technologies.
Providing value added cost-effective cutting-edge solutions to our clients withperformance benchmarks that are at par or in many cases even better than our competitionis what endears our products to its users. We set ourselves in a league different fromothers as we rely heavily on our core ideas of innovation integration and brandrecognition. It is these values that help us stay relevant and evolve rapidly in a dynamicscenario where ideas and innovations change the game frequently.
It is our constant endeavour to come up with world-class products that deliver the bestin quality response time competitive prices and customer service. Working with SME andSOHO we are the most preferred name in the market when it comes to networking solutionsproviding convenience reliability and savings. We invest a lot into R&D which is oneof our key strengths.
Taking forward our passion to innovate we have positioned D-Link as the provider ofelegant solution to users with sophisticated needs. We nurture a customer focused culturechallenging everyday norms to develop an eco-system where consumers can easily accesscontrol view and share their lives.
The way ahead is challenging but I have immense confidence that we have everything inus to transform these challenges into opportunities and deliver innovative solutions. Iwould like to thank all our shareholders partners and associates for believing in us andshowing us their continued support. The past 31 years has seen us grow at a steady paceand the future I believe will be full of opportunities.