Dear Shareholders
The Indian economy is considered one of the fastest growing economies globally with the
projected GDP growth rate at 7% and above for the next few coming years. Further,
Indias demographic dividend is expected to increase with the population growing from
1 billion in 2001 to 1.4 billion in 2026. 83% of that increase is estimated to be in the
age group of 15-59age groups. If this dividend is harnessed by 2025, India will not only
have 25% of the worlds total workforce, but Indias per capita income will be
$4100, which currently staggers round $1,000.
Clearly the task ahead is to harness and develop the collective pool of knowledge and
skill in the industry and to find ways and avenues of rightfully deploying the potential
workforce in the years to come. This industry is marching ahead into advanced processes,
innovation and product development that require a human resource with specialized skills
especially computer related hardware and software skills for automation of business
process. Converting people to be productive and industry ready necessitates radical reform
in multiple aspects of the Indian ecosystem.
The education business has seen the entry of host of new vocational development
institute. The Education Business is one of the high growth and happening industry with
presence of mix of various professional academies, Private and Public institutes, private
tutors, technology collages & schools etc., which forms part of the industry.
Technological and regulatory changes have spawned new platforms of delivery. The Company
operates in highly competitive environment that is subject to innovations, changes and
varying levels of resources available to each player in each segment of business. This may
be a matter of concern if the Company does not adapt to the changing face of the Industry.
The Company has been keeping itself abreast of latest technological changes in the
industry to implement the same in its operation to keep itself ahead of competition.
Indias vocational skill education sector is one of the largest in the world.
During the last few years, several factors have propelled the growth of this sector
significantly. The Government increased the budgetary allocation towards the sector and
the most exemplary instance is the Pradhan Mantri Kaushal Vikas Yojana (PMKVY). Besides,
rising urbanization, increasing awareness about skill education among the masses, booming
investments from the private sector and others are likely to drive the sector forward. The
skill education sector in India has two major segments "core" and
"non-core". While the core sector comprises regular schools and colleges, the
supplementary vocational skill educational sector consists of vocational training and
coaching classes. The concept of non-core skill development program is gaining immense
popularity in recent times. This growth is driven by increasing awareness and up keeping
with dynamic changes of information technology about the fact that the major part of our
youth is computer illiterate especially the semi urban and rural area and there
development cant be committed unless they themselves pace up and adopt the
technology. The relevance of G-Tech lies here. It endeavors to provide quality education
at affordable rates to the youth in India, thereby helping the growth of the nation.
The Companys success to a large part depends on the abilities and continued
services of its skilled personnel and senior management. The Companys senior
management is particularly important to its business because of their experience and
knowledge of the industry.
Sd/-
Mr. Sangramkumar Das
Chairman