New Delhi: India’s economy quickly normalizes the level of pre-pandemic activity, even as uncertainty there is about the mutation of the Koronavirus and a wave of recurrent infection, said Industrialist Kumar Mangalam Birla on Wednesday.
Vaccination is taking speed, which will increase Indian resilience to potential third waves, Aditya Birla Group said while almost overcoming shareholders at the Ultratech Cement Ltd.
GMS group.
Moreover, the government taken by the RBI and the government helped in containing economic disorders of the pandemic, Birla added.
“The economic indicator shows that the Indian economy also quickly normalizes the level of pre-pandemic activity.
In FY22, the Indian economy is projected to grow slightly below 10 percent,” he said.
He added that the fiscal attitude clearly seems ready for the acceleration of government capital expenditure (capex) in the coming years, especially in relation to the national infrastructure pipeline project.
Next to it, there is a very strong signal from pick-up in the private sector capex cycle, driven by companies like Ultratech, he said.
“Three factors in the increase in cycles, conducive policy impulses and global backgrounds that improve the possibility of aligning themselves to position India for a good growth and investment cycle in the medium term,” he said, “in the interim,” in the addition of course, policy makers and Companies need to keep on guard in connection with uncertainty related to pandemics.
“Post the emergence of pandemic, policy support – in terms of fiscal stimulus and ultra-easy monetary policy – has sided with the global level.” While some countries may reflect on gradual normalization of monetary policy, such actions will occur at the speed measured and calibrated, ” He said, adding infrastructure spending would likely increase significantly in the US, and green investment get Fillip in most economies.
In addition, companies and businesses have shown extraordinary resistance throughout the pandemic – taking productivity and digitizing steps with the spirit of missionaries.
” Business has compiled a way of adapting work with conditions related to pandemic and uncertainty, “he said.
The International Monetary Fund (IMF) estimates the world economy grew at 6 percent by 2021, although at the contracted base, he said.” More greatly, world growth is projected on 4.9 percent trends above on CY202 2.
US and China, who jointly accounted for a third of the world economy, turned on the global economic recovery, “added Birla.
Aditya Birla Group, which operates in sectors such as metal, pulp and fiber, chemicals, textiles, carbon black, telecommunications and Cement, gets more than 50 percent of revenue from foreign operations covering 36 countries.
Speaking of Ultratech, Birla said it has announced a planned growth of 19.8 million metric tons (MT) with an investment of more than Rs 6,500 Crore.
“Additional capacity will be made in The rapidly growing market in the East, the center, and the northern region of the country, “he said.
Commercial production of this capacity is expected to flow gradually during FY22 and FY23.
After completing the latest expansion round, Ultratech’s capacity will grow to 136.25 mtpa, strengthen its position As the third largest cement company in the world, outside of China.
“The ambition of capex ultratech is well enriched with the power of the balance sheet and the confidence of the pad A potential growth attached in India, “he said.
In sustainability, Birla said Ultratech had adopted a science-based target as part of its climate commitment to reduce CO2 emissions per mt of cement.
“The aim is to reduce emissions by 27 percent to 2032 on the basis of 2017.
The plan has been articulated to achieve this target,” he said.
In addition, Ultratech is the first company in India and the second in Asia to issue US dollar bonds related to sustainability, marking the entry into the global financial market.
It collects $ 400 million, according to around RS 2,900 Crore, by means of issuance of US dollar denominations without collateral in the form of bonds related to sustainability, he added.
In TA 2021, Ultratech has been replaced by 18.36 percent of the raw material requirements for cement and 3.1 percent of thermal energy needs with alternative resources.
Birla further said Ultratech provided a strong performance in the April-June quarter even though the blow weakened the second wave.
“Continuing business efforts to maintain the optimal capital structure, your company has further prepaid long-term loans of Rs 5,000 Crore, during July 2021,” he said.