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Vaswani Industries
BSE: 533576|NSE: VASWANI|ISIN: INE590L01019|SECTOR: Steel - Sponge Iron
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Chairman's Speech (Vaswani Industries) Year : Mar '14
CHAIRMAN''S STATEMENT
 
 We are living in extraordinary times, when on one hand global recovery
 is gaining pace though slowly, and on the other political developments
 in India are ensuring an enabling environment for enhanced economic
 activity.  According to the IMF, global growth is expected to touch
 3.6% in 2014, and is expected to strengthen further towards the
 beginning of 2015. The growth impetus is emanating from advanced
 economies in sharp contrast to previous years, when developing
 economies put up a better performance. Such a scenario will create
 potential and other business opportunities for developing economies
 like India to grow. In this context it gives me immense satisfaction to
 inform you that Vaswani Industries Limited (VIL) has already focused on
 enhancing production capacities, diversifying investments and
 strengthening our core capabilities - raw material security, technology
 \leadership and retail brand visibility - to leverage new opportunities.
 
 Huge investments in above stated sectors are expected to remove the
 bottlenecks of growth. Such a scenario will increase the country''s
 hunger for steel and power. In both these sectors, VIL has a role, an
 important one, to play in contributing to the nation''s demand.
 
 We are investing significant resources to strengthen our market
 position in existing regions, as well as establishing footprints in
 newer and attractive geographies. During 2013-14, we completed multiple
 expansions across locations to take cumulative steel and power capacity
 to 7.50 MTPA and 4,527 MW respectively. In coming years, we will
 enhance steel production capacity to leverage our captive coal and
 iron-ore reserves, in domestic market.
 
 During FY 2013-2014, we faced many challenges. But undaunted by the
 nature, degree and kinds of these challenges we were able to surmount
 them. Our performance gives us confidence that we will achieve our
 goals. In all circumstances the ideas of caring and sharing cannot
 leave us. In fact, they drive us and give us a sense of fulfillment.
 
 The vision of our Board of Directors is always a guiding force and it
 is reassuring that our journey towards greater glory is in the right
 direction.
 
                                                            RAVI VASWANI
                                                                CHAIRMAN
 
Source : Dion Global Solutions Limited
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