At a time when shifting US trade policies have taken centre stage at the World Economic Forum, Bharat Forge Vice Chair Amit Kalyani has signalled a strategic pivot towards the Indian domestic market, pointing to the country's infrastructure-led growth potential that may outpace global growth.
Speaking to NDTV Profit as part of the network's comprehensive coverage of the WEF Annual Meeting in Davos, Switzerland, Kalyani acknowledged that there is a "cloud" hanging over Davos regarding US President Donald Trump's upcoming sessions.
"Nobody knows what every morning brings. We're just going to have to deal with things one day at a time and then look at them as an aggregate," Kalyani said.
While the US remains the world's largest consumer, Kalyani admitted its share of Bharat Forge's revenue will come down relatively going forward. "I don't see them coming down in absolute numbers, but as a percentage, I think they will come down, or they might come down because other markets will grow faster," he noted.
That faster growth is expected to take place in India, with Kalyani highlighting an opportunity across India's industrial sectors, including energy, rail and marine. In order to seize this opportunity, Bharat Forge is looking beyond its traditional strongholds and plans to build up facilities in the northern and eastern parts of India.
"We will plan new locations in new states to set up these facilities because a lot of the growth is going to come disproportionately from the eastern and northern parts of India," he told NDTV Profit.
As far as the upcoming Union Budget is concerned, Kalyani urged the government to prioritise job creation and deregulation, among other things. "We need to reduce regulation in setting up new businesses... even basic industry needs to grow. We are woefully under-capacitated for the population of our country and the aspirations of our country."
Despite ongoing trade concerns, Kalyani remains optimistic about bilateral ties between India and the US. If given a moment with President Trump, Kalyani's message would be simple: "India and the US are really completely aligned with each other and need to work together for the benefit of each other and the world."
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