Davos 2023 | Amit Kalyani says trucking in high demand as Europe's shipping & logistics shift from sea to land

"In the US, there is a replacement demand that's coming up and the country is now going into an infrastructure bill cycle. So that's going to promote growth. As a result, the demand for passenger cars is outpacing supply, and people are having to wait 6, 7, or even 9 months to receive new cars. Therefore, it is evident that there is a high demand while also tightening financial conditions," he said.

Kalyani highlighted that India is a bright spot in the global economy and that most people recognise that the economy is being well managed.

According to him, there will be more opportunities for people in India in the future because there will be more investments. He emphasised the need to speed up decision making in order to take advantage of these openings.

Kalyani expects to see strong growth going forward, citing the growth of end markets and the shifting of manufacturing as one of the reasons. He also highlighted that India is becoming a big thing for Europe and that the defense vertical is taking off quite well. The EV vertical also shows no signs of abating, with price cuts allowing for more demand.

He also praised the Indian government's strong and right view of encouraging local manufacturing. He believes that these are very welcome steps that will allow the Indian industry to get a bigger piece of the global business. Kalyani also mentioned that Bharat Forge is moving from components to subsystems in the defense and EV verticals, and has also gotten into Green Steel.