Modi's Germany visit to open new avenues: Baba Kalyani

Written By Unknown on Senin, 13 April 2015 | 23.25

In an interview to CNBC-TV18, Baba Kalyani of Bharat Forge, discusses what Prime Minister Narendra Modi's Germany visit means to India Inc.

Prime Minister Narendra Modi is expected to attend a community meeting in Berlin hosted by the Indian ambassador. Earlier in the day Modi laid out the red carpet for German investors, promising a "predictable, stable and competitive" tax regime as he pitched his 'Make in India' agenda. In an interview to CNBC-TV18, Baba Kalyani of Bharat Forge , discusses what the development means for India Inc.

Below is the transcript of Baba Kalyani interview with CNBC-TV18's Sanjay Suri.

Q: At the Hannover Messe we have had the political speeches. What could be their fallout for industry we will hear from Baba Kalyani.

A: I think it has been a perfect venue to communicate India's new aspirations, specially the whole "Make in India" programme. I think Prime Minister Modi has communicated this extremely well at the Hannover Messe to the German industry, to the German government, to the German politicians and of course to the Indian industry that is present here.

Q: Any indication of the fallout? Of course it is early days but any indication that you are seeing?

A: From whatever private discussions that I have had with a number of my friends in the Germany industry, they are impressed, they are motivated. Nobody is going to jump in and open the floodgates and I don't think that is desirable. However, I think everybody is going to start looking at India in a new and a different way. Everybody is going to start looking at which areas they could invest in whether it is infrastructure, power. There was a lot of discussion on power and infrastructure. The Germans very rightly believe that unless you have high quality and 100 percent power you really can't develop business. Unless you have good quality of infrastructure you really can't make business productive.

Q: What about defence production, that should be an area that you should tell us more about?

A: Defence production was not on the discussion table from a business to business area right now. I think that is going to be discussed from what I hear in Berlin at a government to government level and I think some policy decisions on this might come out after tomorrow after which I think Indian business will engage with the German counterparts who are engaged in defence.

Q: We have had the Rafale deal which we are told is an of the shelf sale, whatever that may mean, but will there be a fallout benefit for Indian industry from it?

A: The most positive part of that is somebody has started making decisions and I think that is what in India we were lacking, decisions were not being made. I think the Prime Minister has made the right decision. I think Indian Air Force needs fighter jets. Their inventory of aircrafts has depleted quite a lot. So, it is a good thing. Now is this going to be the end game in itself? No. This is the beginning of creating a large aeronautics industry in India and I think as some weeks and months go by we will hear the contours of what this will bring to industry.

Bharat Forge stock price

On April 13, 2015, Bharat Forge closed at Rs 1309.45, down Rs 22.55, or 1.69 percent. The 52-week high of the share was Rs 1362.90 and the 52-week low was Rs 401.25.


The company's trailing 12-month (TTM) EPS was at Rs 27.26 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 48.04. The latest book value of the company is Rs 115.67 per share. At current value, the price-to-book value of the company is 11.32.


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