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Upbeat on growth for all business verticals; capacity expansion likelyBharat Forge
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The commercial vehicle business comprising of medium and heavy vehicles was growing at a fast rate in India because of the peculiar model in the country, using trucks with two axles in the front. Therefore, the component business has got a boost, said Baba Kalyani, Chairman and Managing Director of Bharat Forge. Kalyani said, “All …
The commercial vehicle business comprising of medium and heavy vehicles was growing at a fast rate in India because of the peculiar model in the country, using trucks with two axles in the front. Therefore, the component business has got a boost, said Baba Kalyani, Chairman and Managing Director of Bharat Forge.
Kalyani said, “All business verticals were growing well and saw huge opportunities in defence and oil as well as gas business.”
Growth engines got a boost after January Index of Industrial Production (IIP) rose higher than expected at 7.5 percent. It was the third successive month of 7 percent plus IIP growth in India.
Kalyani said that manufactures saw a huge bump-up in demand and this strong demand has been more than planned and so there would be a need for capacity expansion.
“The heavy commercial vehicles and medium and heavy commercial vehicles have seen 20-30 percent growth on a sequential basis”, he said.
The passenger car business of the company has also been gaining, both globally as well as domestically. The volume is expected to go from 3 million to 7 million by 2027.
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