Everywhere in the world, whether manufacturing, trade or whatever, it is controlled by one apparatus and one policy perspective. Here we have one prime minister with good intentions, and six ministries running their own empires. This creates problems including the import culture.
The commodity price easing really does not play too much role in our margins because our basic raw material - steel - is not really a commodities engineering steel.
I am able to compete not because my labour is cheap, but because I can use technology better than others.
We should have an inclusive growth model in India. Agro-interest is also as important as industrial interest.
When I returned from the Massachusetts Institute of Technology in 1972, my father was running a forging business with a turnover of Rs 3.5 crore. But I had no patience and wanted to grow the business via exports.
India is still considered a preferred destination for many multinationals to manufacture cost-competitive high-technology products for domestic consumption as well as for global demand.
It's the adventure, the adrenaline-flowing, risk-taking in outdoor activities that attracts me.
We book our exports forward for more than a year, and so we have a fixed rate. We do not get the spot rate that we see in the market every day.
Import and substituting imports with domestic production are a big opportunity. With a devaluation of the rupee, imports get expensive, and for Indian manufacturers, this creates a huge opportunity.
I had my own motor boat which we would take to Khadakvasla, but that was 40 years ago.
We are working with the power industry all over the world. We are meeting customers in aerospace and getting them to tour our plants.
Bofors was a steelmaker that became a forgings company and then went on to build guns. Companies like Krupp and Thyssen were in steel and forgings before entering defence. There are similar examples in the U.K.; it is a natural progression.
I had the option of building a career in the U.S. Many of my friends who went at the time did not come back, but for me, building the family business and being with family was worth it. I became a general manager within four months, as I used my education to improve productivity and output.
We have got into Indian railways and are trying to get into the railway locomotive business in Europe and the United States.
The year 2013 has been very difficult, with a lot of headwinds in almost every region and every business.
In 2014, we have some new activities and new order wins in the non-automotive space.
Indians have very good engineering capabilities, and that is why, if an industry focuses on innovation, you will have a far greater chance of success, rather than the model which is based on just being a production machine.
I don't think one party has a bad vision over the other party. I have no doubts that every Indian and every Indian political leadership would like to see this country get to a much better level. We would all like to see inclusive growth.
In 2006, the global economy was doing well. In India, the political and economic situation was stable. All key macroeconomic indicators reflected an economy that was in robust good health.
Subsidies on petroleum products and fertilizers should be phased out in a defined, time-bound manner. The resources that would get freed up could then be used to fund various social sector programmes in education, healthcare and other priority sectors.
