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AFTER NEARLY
SEVEN DECADES
OF INDEPENDENCE,
THREE OF INDIA’S
BIGGEST REFORMS
ARE TRANSPIRING.
TOGETHER.
PROMISING TO
TRANSFORM
REALITIES FOR
INDIA’S CERAMIC
TILE SECTOR IN
GENERAL AND
KAJARIA CERAMICS
IN PARTICULAR.
1. Goods & Services Tax
For decades, the manufacture and
distribution of products in India were
affected by various taxes at various levels.
This affected national competitiveness,
economic growth and competitive fairness.
In 2017, the introduction of the Goods
& Services Tax is intended to remove
anomalies, catalyse economic growth
and strengthen the organised sector. This
reform will be more pronounced in India’s
ceramic tile sector, where majority is
dominated by unorganised players.
2. Real Estate Regulatory Authority
For decades, India’s home buyers bought
the most expensive asset class without
sectoral protection. From 2017, the
implementation of the unprecedented
RERA promises to enhance sectoral
credibility, make it virtually impossible for
non-compliant players to bring projects
to the market. In turn, this will strengthen
the confidence of the buyer and drive the
prospects of organised players.
3. Housing for all
In 2017, the government provided
infrastructure status to the country’s
Affordable Housing segment – a move that
is expected to transform the prospects of
the real estate sector catalysing demand for
residential housing across the value chain
specially for mid-segments which caters to
the needs of the aspiring upward mobile
section of the Indian population. According
to CLSA, this policy could lead to the
creation of 60 mn houses between 2018
and 2024; growth in the premium housing
segment is expected to be more than 30%.
003
ANNUAL
REPORT
20
16-17
KAJARIA
CERAMICS
CORPORATE
OVERVIEW
MANAGEMENT
REPORTS
FINANCIAL
STATEMENTS