Q/ Covid caused a lot of disruptions, followed by geopolitical tensions, rising cost pressures and slowing economies. How have your businesses navigated these challenges?
A/ During the pandemic, we responded quickly. Factories started producing within two or three weeks, largely because workers lived in factories. We vaccinated all our employees, some family members and other associates of the company, and there was a very good response to that. So, during the pandemic, work was not affected much.
The Ukraine-Russia war caused a commodity boom, but that is also over now. The high prices of the commodities affected us when some of them were raw materials. When these were commodities we were producing ourselves, like palm oil, it was actually a benefit. But now that is also over.
The war was bad for Ukraine. But for India, there were opportunities like getting cheap oil and selling refined petroleum products at a big margin. So India has not been very badly affected. It is one of the fastest growing economies. Another economy that we operate in, Indonesia, is also doing well. The developed world and a lot of the developing world are in bad shape. But there are these intermediate economies, which are not so bad. China was badly affected by the pandemic. Now it is slowly recovering, but the Chinese recovery is not really very good, even today. So it is actually a big opportunity for India and Indian businesses.
Q/ What is your assessment of overall economic trends? And what is the growth outlook for Godrej companies?
Denne historien er fra June 25, 2023-utgaven av THE WEEK India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 25, 2023-utgaven av THE WEEK India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
The female act
The 19th edition of the Qadir Ali Baig Theatre Festival was of the women and by the women
A SHOT OF ARCHER
An excerpt from the prologue of An Eye for an Eye
MASTER OF MAKE-BELIEVE
50 years. after his first book, Jeffrey*Archer refuses to put down his'felt-tip Pilot pen
Smart and sassy Passi
Pop culture works according to its own unpredictable, crazy logic. An unlikely, overnight celebrity has become the talk of India. Everyone, especially on social media, is discussing, dissing, hissing and mimicking just one person—Shalini Passi.
Energy transition and AI are reshaping shipping
PORTS AND ALLIED infrastructure development are at the heart of India's ambitions to become a maritime heavyweight.
MADE FOR EACH OTHER
Trump’s preferred transactional approach to foreign policy meshes well with Modi’s bent towards strategic autonomy
DOOM AND GLOOM
Democrats’ message came across as vague, preachy and hopelessly removed from reality. And voters believed Trump’s depiction of illegal immigrants as a source of their economic woes
WOES TO WOWS
The fundamental reason behind Trump’s success was his ability to convert average Americans’ feelings of grievance into votes for him
POWER HOUSE
Trump International Hotel was the only place outside the White House where Trump ever dined during his four years as president
DON 2.0
Trump returns to presidency stronger than before, but just as unpredictable