Jindal SAW Limited continues to focus and dominate its leadershipposition in the entire range of the pipes and tubes market made out of iron and steel. Weinnovate our product to enhance the value proposition we adapt to cope with the fastchanging environment and we deliver quality products and services to our valued customersto remain the most preferred supplier of pipes and tubes company in the world.
The world continues to be an interesting market place full ofuncertainties and surprises. The US under the new administration has shown some signs ofan economic upturn at the same time it appears to be putting barriers around to build aprotectionist economy. We will have to wait and watch how this impacts the global economy.Europe continues to be rudderless without any visibility of direction or timeline for anysigns of revival. The sluggish economy coupled with a threat to the European Unionraises more concern than comfort. The social and political situation in the Middle Eastand Africa have shown signs of improvement but they are not out of the woods and hence itis not business as usual yet.
On the contrary the Indian scenario appears encouraging. We have astable political dispensation the country has successfully tided over the impact ofdemonetization and has now entered the much awaited GST regime one of the biggest taxreforms since independence. The government has also taken initiatives to decouple theIndian economy from the impact of dumping from some of the other larger economies.Inflation and the other macroeconomic parameters are stable the interest rate seems to beeasing out and the government seems determined to carry forward its agenda of inclusivedevelopment to build a modem nation. We are hopeful that the country will provide a stableand growth oriented business environment in the near to medium-term.
Jindal SAW has successfully completed a comprehensive reorganizationprocess where all its non-core businesses have been de-merged or de-subsidiarized. Nowthe company remains focused on its core competency of manufacturing and deliveringhigh-quality pipes and tubes made out of iron and steel for the entire range and for allapplications. This will immensely add to the fundamental strength of the company and aidin propelling faster growth and deeper penetration. During the year innovations have ledto a diversification of the product range which will help us diversify our client base. Wehave a firm strategy to build a growth-oriented sustainable business model.
Core human values use of technology and a systemic approach continueto be our fundamental pillars of success. Human resources continue to be our most valuableasset and we pride in being known as a modern organization with a human face.
Svayam leads our CSR initiatives and focuses on universalaccessibility partnering with like-minded organizations at a national and internationallevel. We remain committed to the protection of the environment and all our units arefully compliant with international benchmarks set by the government. We also supportSwatch Bharat Abhiyan' and other such initiatives taken by the government tobuild a modern India.
We thank all our stakeholders government officials banks financialinstitutions client & customers suppliers & vendors and all the partners whogive us unstinted support in all our endeavours. I assure you that your company maintainsthe highest governance standards has the necessary management bandwidth and resources totake the company to greater heights in the dynamic world and consolidate its leadershipposition as we pursue our goal of overall business excellence.
Prithvi Raj Jindal