Inauguration Ceremony and Keynote address by Chief Guest
Mr. S Maitra, Chief Operating Officer, Maruti Suzuki India Ltd.
Good Morning!
Distinguished Guests, Delegates, Ladies and Gentlemen,
It is a great honor for me to deliver a keynote speech at this very important forum of International Conference & Exhibition on Aluminum Casting Industry organized by Aluminum Casters’ Association of India (ALUCAST).
I would like to first congratulate the organizing committee, who have worked very hard for the excellent arrangements of this seminar and for the hospitality towards the guests and delegates.
Today, as requested by the organizers, I would be covering the topics as shown in the slides.
As you appreciate, the topics requested by the organizers for me to discuss in this limited period of the keynote speech are wide ranging, and I hope the key speakers would be further touching upon the issues in details during the subsequent sessions following this keynote speech.
Ladies and Gentlemen,
As per report of International Monetary Fund, the Global Economy is “Coping with High Debt and Sluggish growth”
The global growth slowed down from 3.83% in 2011 to 3.28% 2012. The same is the scenario in Advanced economies (1.59% to 1.29% in same period) and 7.76% to 6.67% in Developing Asia. The slowdown has been observed in all regions.
The major reasons of the slowdown have been as shown in the graph.
• Earthquake in Japan,
• Eurozone Crisis,
• Emerging economies slowdown and
• Currently fear of US “Fiscal cliff”.
Fiscal and monetary steps are being taken. Progress was made in recent times and more remain to be done.
All these would be resulting into % Investments/ GDP likely to go up from 23.86 to 24.39 % worldwide in 2013. Growth rate is predicted to be increasing to 3.62 % worldwide and to 7.2 % in Developing Asia.
Now Ladies and Gentlemen,
As far as India is concerned