In this conversation with Akash Passey President, ZF Group India, he talks about Tier 2, Tier 3 suppliers and startups being crucial for growth and innovation. He talks about how collaboration cuts design-to-output time and speeds market response. India is a beacon of hope amid global slowdown, according to Passey.
He adds that GST rationalization is welcomed because of which the last two quarters will do much better this year. He also says that there'll be cash flow to support PV, CV and CE sales.
He expects the industry must double manufacturing footprint in the next 5 years which localization being the key in a market like India which is cost-conscious but value-driven. He said that the demand for safety, sustainability, modernization is rising based on which ZF India plans to triple its business in next 5 years.
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