Infrastructure is extremely important, I have serious doubt whether the National Infrastructure Pipeline (NIP) can be a game-changer. NIP is a very traditional infrastructure pipeline. The problem is that most of the infrastructure spending has become financially unviable. The private sector has gone out of investment aim. The public sector investment on infra is also reducing. The government’s capacity to spend on infra is dented. Expenditure on infra projects doesn't take place in a jiffy.
Subhash Chandra Garg, Former finance secretary
There was a time when competitive intensity was very intense. There were challenges on the regulatory side and pricing pressures were very deep. Our view was that some of these things would lead to lot of consolidation in the sector and the best of the growth was ahead of us. Given the digitisation wave in the country, and if data is the new oil, there is going to be a much bigger opportunity in telecom than what we have seen in the previous decade.
Navneet Munot ED & CIO at SBI MF
Robust are companies that survive a crisis, not necessarily benefit from the crisis or do something that will aid their further growth, while anti-fragile are those actually benefiting from the crisis. Recent events make us believe that the life insurance sector will get accelerated.
We are seeing that the ad revenue is coming back now and there is an improvement in ad revenues as the lockdown relaxations are happening. As the ad revenue improves going ahead, there will be an improvement in the bottom-line as well.
The trend is very clear that there are few sectors like pharma, IT services, telecom which continue to outperform on every rally. In the auto space, two-wheelers look a little better than the rest.
I think the government and RBI both realize and recognize that NBFCs are very crucial to deliver credit to MSME sector. Around Rs 25 lakh crore credit outstanding to this sector is from NBFCs alone. So this is a sector that needs a lot of support and the liquidity to NBFCs will make sure that MSMEs get the working capital and come back on their feet which is important for the economic revival.
Nirmal Jain, Chairman & CEO, IIFL Finance
We are hopeful that by this month-end we are going to hear from the government and hopefully the approvals will be announced. We are planning to create a capacity of almost 50 million smartphones over the next four years. Finally, the revenues, once the capacities are established and we have already almost finalized some large global brands for both exports and domestic markets. In mobile alone, we are going to generate revenues of almost Rs 12-15 thousand crore in the next two years’ time.
Atul Lall, MD, Dixon Tech
In May the demand was roughly 60 percent of last year's levels for us. In June and July, it was closer to 90 percent of last year's levels. In a normal year, we would be 10 percent up on last year, so if you look at it from that perspective it is still about 15 percent below what you would normally expect.
The demand revival is not secular. As the markets go into intermittent lockdowns and opening up, the demand tends to ebb and fro. However, in terms of the underlying demand, we have seen that when the market starts to open up, the demand comes back almost immediately. So I think the revival in demand has been sooner and faster than what we had anticipated.
Mathew Job, CEO of Crompton Consumer
We need to standardize test codes because all of us follow our own nomenclature. I think the western world is quite streamlined and I am sure the first step which will be required to go forward in this would essentially be standardization of test codes which is a very important requirement for this to happen, especially to harmonize the entire digital records from various labs.
Om Manchanda, CEO of Dr Lal Pathlabs
On a base of about 403 million jobs, 87 million jobs in 2019-2020 were salaried jobs and you have lost nearly 18 million of them at this point. So that is a very big hit to salaried jobs.
Mahesh Vyas, MD & CEO of the Centre for Monitoring the Indian Economy
The reality is that a lot of businesses have actually got badly impacted through this period and may remain permanently impacted. So with that kind of context, it is important to understand that right now there is this feeling of not having participated and so people are jumping on to any bandwagon notwithstanding any dilution, notwithstanding any disclosure of write-off. In fact paradoxically, the larger the write-off, the greater the participation.”
N Jayakumar, MD of Prime Securities
First Published: IST