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Final Report

Final Report

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Published by surenthar86
employee welfare measures
employee welfare measures

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Published by: surenthar86 on Mar 17, 2010
Copyright:Attribution Non-commercial


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Labour has dynamic role to play in the economicdevelopment of the country. If rapid industrialization of the country is to beachieved one of the most vital factor would be proper handling of the labour.The importance of labour in the industrial system and in the planned economyof that has been recognized. Thus, by providing welfare measure labour can bekept satisfied to work for the organization and ultimately for the nation aswhole.A potential and diversified industrial sector can ignite andaccelerate economic growth over the years with the rapid industrialization of India, a massive organized sector, employing a large work force has come tooccupy an important and visible part of the country’s economic life. Theindustrial progress of country largely depends up on the efficiency of labour.Wage is not sole factor to improve the conditions of theworking class but labour welfare measures were regarded to be a goodinvestment by employees for improving industrial efficiency. Such activities areof significant in fostering good industrial relations. To achieve the goals of largescale industrialization, happy and contented working force are essential torealize the need of the time asset it is one of these basic pillars, on which theedifice of our industrial infrastructure is to be based.Welfare is the broad concept referring to a state of living of anindividual or a group, in a desirable relationship with the total environment,ecological, economic, and social welfare. Labour welfare includes both thesocial and economic contents. The oxford dictionary defines labour welfare as
Effort to make life worth living for work men”.
Although the gasket industry faces huge competition, price & cost pressures andhigh entry barriers, the changing dynamics, with the growing economy and theescalating tyre industry, provide a fillip to the industry. The zooming tyreindustry, with sales growing at a CAGR of 15.8% during the 2002-06 period,has driven the growth in the gasket industry, keeping both the OEM andreplacement demand buoyant. The demand and growth for the industry dependson primary factors like overall GDP growth, agricultural & industrial production and on secondary factors like infrastructure development and prevailing interest rates. The total number of vehicles on the road is constantlyswelling, on the back of an increase in road-transportation, which would gainmore momentum once projects like the Golden Quadrilateral and NSEWCorridor project get implemented. The Indian gasket industry has witnessed aCAGR of 7.7% over the last decade. Though the replacement markethas driventhe industry growth for a long time, the OEM market has seen a robust growthover the last three years. The truck and bus market is the largest segment of theindustry, accounting for approximately 70% of the industry turnover, in termsof value. Tyre production, in tonnage terms, grew at a healthy rate of 8.7% in2005-06 against that of 2004-05. The medium (MHCV) gasket segmentregistered a growth of 7.7% while the light (LCV) gasket and tyre segmentsregistered a phenomenal growth of 14.8% and 14.7%, respectively. Exports, onthe other hand, have not grown much, due to the slowdown in MHCV gasketsexports and have recorded a 0.3% growth, in tonnage terms.
Over 18 years sealing technology experience. M/s Spiraseal GasketPrivate Limited was created by Mr. Chidambaram who worked with IGP group,later started the company which brings together over 18 years experience at theforefront of sealing technology. His commitment to manufacture excellence,service, research and development, together with the international reputation,ensure that Spiraseal is uniquely placed to deliver the best products, backed bythe finest service, world-wide. This commitment is borne out through the mostcomprehensive stock availability in the gasket industry. Spiraseal offer fulltechnical support to their customers.Throughout the world the oil, gas, petroleum and chemical processingindustries operate in environments where only the strongest survive. The precision engineering of materials and their supply, wherever and whenever they are required, is fundamental in order to gain the trust of operators in thesemost demanding technologies. Our aim is to supply quality products andservices and to fulfill our customers’ expectations. This is underpinned by our Quality System approval to ISO 9001:2000 which is supplemented by manycompanies and independent authority approval.Spiraseal takes great pride in having achieved acceptance for providinggaskets used in sealing applications where extreme mechanical and thermal performance demands are considered routine. There are many companies in thesealing industry. Very few can boast the quality of products, quality of serviceand quality of people found at Spiraseal.

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