AGILITY AND INNOVATION

As the CV industry is in for yet another eventful year (FY2021-22), agility and innovation hold the key.

- Shyam Maller

After an extraordinary FY2020-21, the CV industry is up for another extraordinary year it looks like. The second Covid-19 wave at the beginning of FY2021-22 has disrupted the acquired momentum. The macro economic indicators – the RBI’s original GDP growth forecast for FY2021-22 of 10.5 per cent as well as the Q1 FY2021-22 forecast of 26.2 per cent is unlikely to be met. The second Covid-19 wave has diverted attention from the economic revival in terms of the sequential month-on-month growth in most of the high frequency indicators like GST collections and PMI (Purchasing Managers Index). Lockdowns since April 2021 have been the way of life. The ensuing scenario has diverted attention from the rebound in electricity consumption and the rise of digital payments and electronic toll (FASTag) collections at highway toll plazas.