Power List 2020 – Greaves Cotton

The year 2020 is on the back of a tough 2019. It looks promising partly because of some startups showing good potential in new mobility areas and the BSVI vehicles that just started to roll out, bringing new hope into the industry. Plus there is CNG and electric mobility thrust. So it is cautiously  optimistic especially in the second half of the new fiscal year when it hopes to start seeing some green shoots. Over the last couple of years, Greaves Cotton has adopted diversification stance in terms of taking automotive engines to non-auto engines as well as into fuel agnostic solutions such as electric and CNG.

It has also focused on capital production and making sure that they keep focusing on existing businesses while expanding reach to new ones. With the industry transitioning from BS-IV to BS-VI, the second half of the current year needs to be watched out for. The growth pace will remain slow because of switchover to such a major change and cost will increase for the end consumer.

On the positive front, there is a thrust by the government on infrastructure and agriculture. It is looking at shared and affordable mobility in the last mile because that is the area where Ampere and erickshaw are currently supporting. Old vehicle replacement is another area that can drive huge demand if accelerated through a vehicle scrappage policy. Amongst the new forms of mobility, India has shown great push for electric vehicles. FAME II was introduced last year and they were one of the first players to get subsidies under the scheme with Ampere.