CV industry's journey in a post-pandemic period

The keynote address of Darrell Huntsman, CEO, Frost & Sullivan, as part of Apollo CV Awards 2021, provided a glimpse of how the CV industry will journey in post-pandemic period.

Beginning his keynote address by highlighting three things – recovery from Covid and the direction of economic recovery, adopting change and thriving, and the journey of commercial vehicle industry amid all this, Darrell Huntsman expressed that he is seeing a strong recovery globally on the economic front. Of the opinion that he is witnessing a strong rebound as the world comes out of the challenging year that 2020 was, Hunstman averred that he is looking at five to 5.5 per cent growth across economies globally. He added that different regions will drive different recovery patterns. Of the opinion that anywhere between three and 11 per cent rebound from region to region will be visible, Darrell said that US is likely to see a economical rebound of between four and 4.5 per cent. In Europe, the growth is looking to be between 4.5 and eight per cent, he quipped. Confident that China will continue to be a strong growth driver for the world economy at eight per cent, Huntsman said that India would see a nice growth spike of 11 per cent despite being hit hard by the pandemic. Terming as fantastic the continued growth in the world economies post an unprecedented Covid challenge in 2020, he mentioned that interest rates in most parts of the world will remain low. “They will remain low as governments provide a stimulus for businesses to re-invent themselves and contribute to the economic growth,” he added.