In the last few years we have experienced a huge transformation in the business world.We had moved on from the traditional mom and pop stores to Shopping malls a few years agoand now we have accepted online portals as an integral part of our daily life. It would besafe to state that we are in the middle of a digital revolution and it appears to be muchbigger than the Industrial revolution of the eighteenth century. We have everythingdigital around us from shopping websites to entertainment to digital currency. Everythingdigital is gaining traction in our lives and this digital revolution has already changedour habits substantially.
It is now established that internet driven businesses have huge potential in India. Thepace of internet penetration in the country continues to be rapid. After the first 1 00million users came on stream in the first decade of this millennium the next 100 millionwere added in four years between 2010 and 2014. The trend is expected to continuein 2016 and by the end of the calendar year one expects 500 million internet users inIndia- that is a large market that could be services through various ways to create value.
Globally all dynamic corporations are either foraying into the digital arena oralready has significant exposure to this sector. Recognizing the changing trend andbusiness requirements we have promptly created our presence in the digital arena throughempowerbollywood.com. Empowerbollywood.com was commercially launched on 16thMay 2016 and has found wide acceptability among various segments of the media industry.Through empower Bollywood we endeavor to provide a platform to the media industry bringtransparency in the overall operations and create opportunity for every participant of themedia industry. We aspire to become a one stop shop for all the requirements of the mediaindustry and facilitate smooth conduct of media business.
While Empower Bollywood is our pioneer venture in the digital space your company isalso working on more ventures which are expected to be launched shortly. Empower Trad EXis another digital platform in the pipeline which endeavors to facilitate exchange ofgoods and services in a non-cash environment. We are hopeful that Empower TradEX will helpbusinesses to reduce inventory and offer another channel to improve sales.
We also have strong presence in the food processing sector through Jharkhand Mega FoodPark. Hon'ble Food Processing Minister Smt. Harsimrat Kaur Badal inaugurated the Food Parkat Village Getalsaud Ranchi. The mega food park has been set up in an area of 51.50 acresand the park is expected to employ about 6000 people.
Your company is in the process of laying the foundation for the next generationbusinesses to ensure sustainability and growth for all its stakeholders. We expect thedigital businesses to be the back bone of the company's operations; however thistransition will require substantial investments and may need some time for its effect tobe reflected in the company's financials.