We are almost bordering a V-shaped recovery now, says Manish Bhatnagar, Managing Director, SKF India

For the upcoming Budget 2021, Manish Bhatnagar, Managing Director, SKF India says:

"Despite all the challenges posed due to the onset of the pandemic in 2020, road to recovery for the industry is a U-shaped journey with the minimal base for U, almost bordering towards a V now. On the back of better resource allocation, redefined work processes, strategic investment interventions, aggressive digitalization, and robust government policies the economy is clearly on the revival mode and we are positive that 2021 will be a game-changing year specifically for the Indian manufacturing sector. The flexible nature of the Indian economy will help expedite the recovery path. With the Indian manufacturing sector playing a pivotal role in the economic growth of the country, we are hopeful on the upcoming budget to address and resolve some of the pain points such as – increased cost of raw materials like steel, rise in import freight, IP safety regulations and labour laws."