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ADDRESS BY HIS EXCELLENCY DR.K.ROSAIAH, GOVERNOR OF TAMIL NADU AT THE GOLDEN JUBILEE CELEBRATIONS OF THE AUDCO INDIA LIMITED AT CHENNAI TRADE CENTRE, CHENNAI ON 20.01.2012 AT 6.30 P.M.

At the outset, I congratulate AUDCO India Ltd., on its Golden Jubilee.  Crossing a milestone of 50 golden years in this competitive world is really a creditable one for any organization.  AUDCO India Ltd., has achieved a remarkable position and is one of the leading ‘valve’ manufacturing companies in India.

The foresight and wisdom of our national leaders like Pandit Jawaharlal Nehru and others aimed at bringing up the industrial development of our nation.  We have achieved a remarkable growth in the industrial sector since independence.  But we have a lot to achieve to become a developed nation. To be global players we have to keep in pace with the contemporary technology.  A wide range of policy initiatives, economic, fiscal, trade and industrial policies of the Government augurs well to make Indian Industry efficient and competitive.  Improvement of quality and performance and adoption of innovative technologies are the need of the hour.

Like valves in human heart, the Industrial valves play a vital role to keep the pulse of the industry ticking. Gone were the days when we imported industry valves to comply with our needs.  The Advancements in Technology and technical know-how have led to the manufacture of Industrial valves in India itself. 

Statistics reveals that the Global Valves market is around US $ 53 Billion and Indian Market is about Rs.8000 crores. Valves play a critical role in the process industry in sectors like oil and gas, power, water, steel etc., The growing demand for the valves in India is a result as well as a necessity for the growth of the country. In India it is estimated that valves market will grow by around 10% annually. We have to enhance and improvise our competency. Tamil Nadu has always been in the fore front in industrialization with a strong presence in the manufacture of engineering and auto components, pharmaceutical and leather industries.  Today Tamil Nadu is ranked as the fifth largest economy state in India with about 26,000 factories playing a key role in bringing about industrial growth.

The conducive work culture, supportive Government, policies, the availability of large number of skilled manpower in Tamil Nadu add to the advantage for starting of new industries. I am happy to learn that the fast growing demand for Audco Valves prompted the company to move from Mumbai to Tamil Nadu to take advantage of the large number of foundries.  In February 1968, Audco India inaugurated their new factory in Chennai at Manapakkam.

I congratulate Audco India Ltd., for their added facilities and for starting three modern plants in and around Chennai. I am glad to note that Audco is one of the first Indian companies to get ISO 9001 certification as early as 1992. It is a matter of pride that over the last five decades, Audco India Ltd., has become synonymous with the highest standards of quality and reliability, with management systems on par with international standards.  I am pleased to learn that Audco’s Quality Management System conforms to international standards and they enjoy leadership position in India and also have a strong global presence.

I convey my warm felicitations to Shri A.M.Naik, Chairman and Managing Director, L & T Ltd., Shri J.P.Nayak, Advisor to the Chairman and Managing Director, L & T and Director Audco India Ltd., the officers and staff of Audco India Ltd., and to all those who are associated with Audco on its Golden Jubilee celebrations.

I wish Audco India Ltd., grow from strength to strength in the years to come. My greetings to all of you.

Jai Hind.

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