Harsh Goenka, Chairperson. RPG Group, says “we will soon become a very large manufacturing place for electronics, semiconductors. So, there is a lot happening in the manufacturing sector with the PLI and other initiatives by the government and with business excellence becoming in the forefront of most businesses. The earlier Make in India meant average quality, now Make in India means superior quality and so that is the big difference that has already happened.”
On the India growth story
Luckily for us, India is at a very sweet spot where the economy is doing well, inflation is fairly in control. There is a strong government at the top. So, all the macro factors are in our favour while in the world there is a fair amount of turmoil going on. So, you may say we are andho mein kana raja (One-eyed king among blind people) or whatever it is but we are doing well and I am so proud and happy about it.
Yes, I think it is the best that we have seen for the Indian economy. Which sectors or themes do you think will work out better? The last two decades were all about software and IT and these days it has been about manufacturing picking up; Make in India, the policy push, do you think the next decade or two will belong to the manufacturing sector?
I sincerely believe that though the service sector including the IT sector will do well, India is going to become the manufacturing cradle of the world. I sincerely believe the China plus one policy will bear a lot of fruit in the near future and is already happening. We will soon become a very large manufacturing place for electronics, semiconductors. So, there is a lot happening in the manufacturing sector with the PLI and other initiatives by the government and with business excellence becoming in the forefront of most businesses.
The earlier Make in India meant average quality, now Make in India means superior quality and so that is the big difference that has already happened.
Well yes and that superior quality is something that we saw in Ceat as well when it won that big award on the quality front. In your business, where is the focus right now? Which are the key drivers because all these companies have seen re-rating right from a KEI to the other RPG Group companies. What is your take?
All sectors, by and large, are doing well in India. I cannot think of a single sector which is not doing well. The pharma industry is seeing good growth. As far as the vehicle, the auto industry is doing well and therefore the tyre industry should do well and is doing alright as long as oil prices are in control. In the infrastructure sector, a lot of investment is taking place.
