Published - 17 Jan 2023
Rajesh Jejurikar, Executive Director (Auto & Farm Sectors) of Mahindra & Mahindra Ltd. says demand for tractors will increase despite inflation worldwide.
Jejurikar shared — "We feel reasonably insulated from what's happening around the world" to BQ Prime's Niraj Shah during the World Economic Forum in Davos 2023.
He added that — “the global slowdown of the economy can soften commodity prices and it can lead to a positive impact on their company.”
Jejurikar also said that — "There is a significant decoupling in the auto and farm sectors as domestic demand remains robust, even as fears of a global slowdown continue to loom.”
According to him, India is used to inflation and the rest of the world is not. He feels that the Indian consumer and the industry can handle inflation well-off. He shared that for 2023, we foresee more farming output, a good monsoon cycle, optimum interest rates and some increment in government spending.
Hoping 2023 will be a positive year for domestic tractor OEMs despite the looming inflation worldwide.
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