We have done a lot of work on cost reduction, getting ourselves lean, reducing our breakeven, reducing our fixed cost and increasing exports. All of these factors help because our export basket is not just automotive but also includes industrial products, railways and others.

The emphasis on innovation and technology in our companies has resulted in a few of them establishing global benchmarks in product design and development, manufacturing practices and human resource capabilities. However, there is no room for complacency.

Our strategy should be based on indigenisation and import substitution. The government must provide opportunities for domestic companies to participate in sectors in which the country continues to depend on imports.

Baba Kalyani Quotes