“Our company has started focusing more on research and development to deliver more value added products to our customers to mitigate the losses incurred.”
Excerpts of the interview with Mr. Sunil Poddar, Managing Director, Vidushi Wires Private Limited:
Challenges to reckon with:
In my understanding, the steel wire industry would face a very challenging time ahead in getting orders because of the ongoing price volatility. Since the last six months, we have witnessed a tremendous increase in steel prices that has not been accepted by consumers easily, and also, the availability of steel as a raw material has been quite poor which might continue for the next couple of months. This is majorly due to the global and other macro-economic factors such as the government’s focus on infrastructure projects.
Expectations from the Government:
The wire industry should get more support from the government with regard to exports that will enable us to have a greater presence around the world. The ongoing trade tensions have presented the perfect opportunity to the government to help launch domestic companies into the global marketplace. Further, with appropriate policies, it will be easy and profitable for small and medium enterprises to export and compete with other global companies.
“The wire industry should get more support from the government with regard to exports.”
Strategies to strengthen the economy post-COVID:
Our country has already taken the opportunity to work harder and faster towards scaling up healthcare, IT, edu-tech, infrastructure, and auto sector, amongst others. Also, Post-COVID, every industry is working particularly hard, the result of which we might see in the next quarter or in the next year’s GDP growth.
As about our contribution, we plan to extend our reach to the companies in the sectors which can use our products to create something of even higher value.
Fast forward to 2021 – the way ahead:
Our company has started focusing more on research and development to deliver more value added products to our customers to mitigate the losses incurred amid the pandemic. A plus point was learning to work with fewer resources such as manpower and working hours while delivering the same or better results as before, as we have certainly become more efficient than we were in the Pre-COVID period.
