Growth story is intact, says India Inc

Companies assert will focus strongly on India, but will go abroad if customers demand

The Indian growth story is still intact, if the industry leaders are to be believed. Speaking at the Nasscom Summit, Rajiv Bajaj, managing director, Bajaj Auto emphasised that India would continue to be his company’s focus in the future.

"Even if other people want to look at the market at the east or the west, my company is happy to be in the middle, that is India," he quipped. "One needed to align the mood of business with logic," he added.

Shikha Sharma, MD & CEO of Axis Bank also shared the same view and said that though their focus was also to remain on India, they would go overseas if the customers demanded it.

Bajaj explained that what has changed in the present time was not the mood, but in fact the competition in the business. He informed that the people who could not innovate and keep up with the standards had to face the wrath of the market and public.

"Investment within the technology sector will continue to grow," said S Gopalakrishnan, co-founder and executive co-chairman of Infosys, reflecting upon the same positive mood.

Building the brand of the company was the most talked about in the session. While Gopalakrishnan reflected on the importance of media, especially social media in the process, Bajaj commented that they were not focused on advertising.

"We do not want to advertise to gain consumers. We would advertise only after the product has attained some success in the market to give pride and confidence to the existing customers," Bajaj said. The key here to sell volume was to market a niche, according to him. Sharma of Axis Bank further added that for them it was important to have and maintain good capital.

"This year is going to a positive one for us and others as the domestic consumption continues to remain strong," she concluded.