The dark clouds seemed to have finally lifted and the Indian Economy appeared in a brighter spot towards the close of the 2014-15 fiscal. From almost staring at a macro-economic crisis at the beginning of the fiscal year, aggravated by double-digit Inflation, severe dip in investor confidence and a weak Rupee, the tide changed with the emergence of political stability at the Centre that brought back the bulls into the stock markets, hinting the emergence of stability. The general mood too turned upbeat as economic reforms got a push.
According to an update of its World Economic Outlook by International Monetary Fund (IMF), India is set to become the world's fastest-growing major economy ahead of China, in the next couple of years. India is expected to grow at 7.5% in 2015 and 2016 as per recent updates issued by IMF.
After years of diminutive growth the reform momentum has picked up in India. Inflation has declined by over 6 percentage points since late 2013, and the current account deficit has shrunken from a peak of 6.7 percent of GDP (in Q3, 2012-13) to an estimated 1.0 percent in the coming fiscal year. Going ahead it is widely expected that a further momentum to growth will be provided by declining oil prices and increasing monetary easing facilitated by ongoing moderation in inflation. Simulating the effects of tax cuts, declining oil prices will add spending power to households, thereby boosting consumption and growth. Oil is also a significant input in production and declining prices will shore up profit margins and hence balance sheets of the corporate sector.
The Indian economy grew at 7.3 per cent in 2014-15 due to improvement in the performance of both services as well as manufacturing sectors. Exports are expected to grow by 3.9% in 2015-16, vis-a-vis (-) 1.8% growth in 2014-15 and Imports are expected to increase by 2.4% in 2015-16, vis-a-vis (-) 0.4% growth in 2014-15. Sectors like steel, aluminum and copper are likely to see a rise in production levels corresponding to the rise in demand from infrastructure and electricity sectors. Hence, we expect the basic metals and other non-metallic minerals industries to rise by 6.2 per cent and 3.4 per cent, respectively in 2015-16.
However the global economy is still under stress for gaining momentum as many high-income countries continue to grapple with the past impacts of the global financial crisis. Emerging economies continue to remain as less vibrant than in the past. After rising slightly in 2014, to 2.6 percent, world GDP will grow by an estimated 3.0 percent in 2015 and 3.3 percent in 2016, supported by gradual recovery in high-income countries, low oil prices, and receding domestic headwinds in developing countries.
Developing economies are projected to see a rise in growth from 4.4 percent in 2014 to 4.8 percent and 5.3 percent in 2015 and 2016 respectively.
INDUSTRY STRUCTURE AND DEVELOPMENTS:
As the Economy of India is expected to grow with reasonable pace, each and every Sector of the Industry will be growing including IT, Software, Real Estate, Manufacturing etc. As you are aware that your company is engaged in Iron & Steel Sector, it will also have, the immense opportunities with the growing Economy.
Your Company constantly strives to meet and exceed expectations in terms of the quality of its business and services. The vision of your Company is to strive towards recognition as key player in commodities, Iron & Steel Industries and to achieve its objectives with excellence, fairness & courtesy towards factors of the organization. Your Company commits itself to ethical and sustainable operation and development of all business activities according to responsible care and its own code of conduct.
OUTLOOK, OPPORTUNITIES AND THREATS:
With the continuous technological advancements in economy, there will be enormous business opportunities for your company. It is poised to grow at much larger rate in the coming years. Your Company looks forward to avail such opportunities so as to improve its results. Barring unforeseen circumstances the company is confident of achieving better results in the current year.
RISK AND CONCERNS:
Risks can come from uncertainties in financial markets, legal liabilities, credit risk, accidents, natural causes and disasters. Your Company has adopted appropriate procedure and policies to safeguard it against such type of risks and uncertainty.
MATERIAL DEVELOPMENT IN HUMAN RESOURCES / INDUSTRIAL RELATION:
Your Company is having a competent team of dedicated employees. The company recognizes the importance and the contribution of its human resources for its growth and development. The company follows a proper policy to retain its employees including their training and skill development. HR policies of your company are being aligned with the current trends in the market. The Company follows a recognition and reward scheme that motivates the employees to perform better.
Certain statements made in the Management Discussion and Analysis Report relating to Company's objectives, projections, outlook, expectations, and estimates may constitute forward looking statements within the meaning of the current market and economic scenario with applicable laws and regulations. Actual results may differ from such expectations, projections in the capital market. Several other factors also could make a significant difference to the Company's operations such as economic condition, Government regulations and taxation, etc.
|On Behalf of the Board of Directors|
|For, NEWEVER TRADE WINGS LIMITED|
|(Formerly, NeweverInfrahomes Limited)|
|AKASH KUMAR||VIKRANT KAYAN|
|Date: 04.09.2015||Managing Director||Director|
|Place: Kolkata||DIN No. 06550023||DIN No. 00761044|