Bullish on rural economy, conservative on commercial vehicles: SKF India MD

Manish Bhatnagar, managing director (MD) of SKF India on Friday said that he remains conservative on commercial vehicles (CVs).

SKF India is a leading supplier of product solutions and services within rolling bearing seals mechatronics and lubrication system.

Speaking in an interview with CNB-TV18, Bhatnagar said, “We supply to many-many industries; in fact, not one segment is more than 8 percent of our business, so we are fairly diversified.”

“We are bullish on everything linked to the rural economy. We are slightly bullish on passenger vehicles for this year on the back of the new model launched. We remain conservative on CVs. We do not see the CV cycle picking up for the next 12-18 months,” he added.

On the PLI scheme, he said that production linked incentive (PLI) scheme is a good way forward, but it is only a part of how the company would want to invest more.

“It’s on the whole theme of ease of doing business, so Atmanirbhar, PLI is the ease of doing business and all these have to come together in a coherent manner for us to make decisions. SKF has been Atmanirbhar if you want to use the phrase in India for more than 60 years and we are looking at more investments in brownfield and greenfield and certainly, PLI is a factor in our investment,” said Bhatnagar

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