Sunday, June 14, 2009

Worst over for India, say top CEOs

Is the worst over for the Indian economy? Here are responses from some of India’s top CEOs, featured in the June 8 issue of India Today:

Kumar Mangalam Birla, chairman, AV Birla Group: Things appear to be bottoming out for cyclically driven industries like automobiles.

Pawan Munjal, MD & CEO, Hero Honda Motors: Since we have a stable government at the centre, it would be safe to say that the worst is over…

Venu Srinivasan, chairman, TVS Motors & CII President: Yes, we can say we have hit the bottom, and while we may take time – till September – to get out, we could look at 6% growth at the end of the year.

Anand Mahindra, Vice-Chairman & MD, Mahindra Group: For India – the domestic economy – the worst is clearly over.

Sunil Mittal, Chairman & MD, Bharti Airtel: Yes, certainly. The issue was always about incremental growth. The economy is certainly reviving and should gather pace in the coming months.

Deepak Parekh, chairman, HDFC: Yes, the worst is over. I don’t think we will have another situation like last October.

Adi Godrej, chairman, Godrej Group: Yes, the worst is over for India.

Azim Premji, Chairman, Wipro Technologies: The trajectory is changing from downward sloping to flat.

K V Kamath, chairman, ICICI Bank: Very clearly the worst is over for India. The evidence is the feel good factor and business confidence.

Rahul Bajaj, chairman, Bajaj Auto: Probably yes, though 2009 will continue to be a difficult year for the industry.

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