VEDANTA RESOURCES It has been an eventful first year of government under the Modi Sarkar. India is back on its high growth trajectory and estimates suggest a 7.5% GDP growth rate in the year 2016. Some reports even suggest that growth can touch 9%. Mr. Agarwal has always believed that India has the potential to grow in double-digits.
There have been some incrementally positive signs. The Prime Minister has resolved to push reforms, ably supported by his cabinet and the executive. This has culminated into a series of investor-friendly steps such as the Coal Bill followed by the coal auctions through reverse bidding, the Mining Bill, the Insurance Bill and the Ordinance on the Land Bill.
While these reforms are industry-specific, the government has realized that the latent economic opportunity in India can only be unleashed by tapping its demographic dividend. The 'Make In India' programme is an illustration of the Prime Minister's exemplary vision to transform India through inclusive development.
The Prime Minister has put back the spotlight on India at the global stage and at the world's youngest workforce. While companies, both international and Indian continue to invest in creating manufacturing bases across the country, the number of skilled and semi-skilled jobs will increase. Millions of youth will be inducted into the mainstream economy, earn
their livelihood and boost consumerism.
Vedanta Limited (Formerly known as Sesa Sterlite Ltd. /Sesa Goa Ltd.)DLF Atria, Jacaranda Marg, DLF City - Phase-2, Gurgaon - 122002, Haryana, India
T +91 124 4593000 | Website: www.vedantalimited.com
Registered Office: Sesa Ghor, 20 EDC Complex, Patto, Panaji (Goa) - 403 001
CIN: L13209GA1965PLC000044
There cannot be a better time to tread on this path of steady, strong economic expansion. It's just the first year. If things keep moving at the current pace, then Mr. Agarwal is sure that the next year will be another strong step in making India the largest economy in the world.
About Vedanta Limited (Formerly Sesa Sterlite Ltd. /Sesa Goa Ltd.)
Vedanta Limited (Vedanta Ltd) is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil & gas. The Company produces oil & gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.
Vedanta Ltd, formerly Sesa Sterlite Ltd. /Sesa Goa Ltd., is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Sustainable Development is at the core of Vedanta's strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities. Vedanta Ltd is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.
President - Group Sustainability, CSR and Communications
Tel: +91 22 6646 1000
gc@vedanta.co.in
Disclaimer
This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
Vedanta Limited (Formerly known as Sesa Sterlite Ltd. /Sesa Goa Ltd.)DLF Atria, Jacaranda Marg, DLF City - Phase-2, Gurgaon - 122002, Haryana, India
T +91 124 4593000 | Website: www.vedantalimited.com
Registered Office: Sesa Ghor, 20 EDC Complex, Patto, Panaji (Goa) - 403 001
CIN: L13209GA1965PLC000044
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