MAM
Rural, tier 2 & 3 cities to drive the next leg of growth: Ashish Bhasin, DAN
NEW DELHI: After the sluggish growth in the previous few quarters, which is now further worsened by the Covid2019 pandemic, DAN CEO APAC and chairman India Ashish Bhasin is now bullish about the economic possibilities of the country. He feels that the worst has already happened and from here on it is going to be a month-on-month recovery path for the industry, he shared with Indiantelevision.com during a virtual fireside chat with founder CEO and editor-in-chief Anil Wanvari.
Bhasin noted that he doesn’t see a V-shape recovery happening but there are certain markets, which have already started signs of growth and will continue to do so, including automobile and FMCG.
“FMCG was doing well during the lockdown too as it came under the essential services category and then also a function of sales-and-demand, managed pretty well. Another sector that has started showing signs of recovery is the automobile industry. I feel that post-pandemic more people will be preferring own transport and I see a rise in sales of motorbikes happening. Tractor sales did pretty well too, over the past few months and that will continue to do so,” he insisted.
He is also pinning his hopes for growth in rural and tier 2, tier 3 areas. “The harvest has been good this time and also the sowing season was pretty positive. Though the agriculture sector just contributes to the 15-16 per cent of the GDP, it will play a significant role in pulling the numbers up in the coming quarters. Also, more dispensible income in the hands of people will create a good supply-demand cycle. I see rural areas and tier 2, tier 3 cities driving the next leg of our growth.”
Bhasin pointed out that in the rest of the industries, demand might not be a big problem but the struggles will be on the part of restoring the supply side logistics that have been badly hurt because of the pandemic. He sees sectors like cinema, real estate, and non-digital education entities taking quite some time to revive from here.
“It’s not like a switch that goes off during the lockdown and is suddenly up as the restrictions are lifted. One, it will take its own time for the labourers to come back, the production to start, and then supplies picking up. Even then, it is not going to be a straight way, there will be hiccups with cases spiking up or maybe demand going down,” he elaborated.
He stated that the pandemic has pushed the country behind by 2-2.5 years and it will take time till 2022 for the economy, as a function of various markets cumulatively, to reach 2019 level.
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
