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M&M's Pawan Goenka holds high expectations from Budget, expects quick launch of PLI scheme

Updated : January 14, 2021 11:56 AM IST

Mahindra & Mahindra Managing Director Pawan Goenka said he has high expectations from the Union Budget and the most important takeaway will be a quick launch of production-linked incentive (PLI) scheme. "The expectations that we all have, auto industry people at large, is very high from this budget,” Goenka said in an interview to CNBCTV18.

"The important thing for the Budget has to be to stimulate consumption; if consumption grows then everything else will fall in place. I would say that a lot of things have already started and we need to keep thrust on those and the most important one is the production-linked incentive (PLI) scheme. The whole PLI scheme is an investment that the Government of India is making for demand generation. Therefore, the need is to start all PLI schemes as early as possible," said Goenka.

On business front, he is surprised with the recovery in the tractor segment and there is absolutely no sign of demand receding. "As far as autos is concerned, at least for Mahindra I can say that we are selling everything that we can make and we can easily sell 15-20 per cent more if we could make it. Serious concerns that industry has right now is supply of semiconductor chip and the other concern is steel. There is a possibility that steel itself will bring down the overall output by 15-20 percent this year," said Goenka.

For entire interview, watch the video
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