News & Updates » Due to COVID-19 spread Businesses may not go back to earlier days in a hurry says Elgi Equipments MD

 

Due to COVID-19 spread Businesses may not go back to earlier days in a hurry, says Elgi Equipments MD

3 May 2020

Jairam Varadaraj Managing Director Elgi Equipments Limited

Mr. Jairam Varadaraj, Managing Director, Elgi Equipments, said the whole situation seems like a science fiction, a thriller based on a pandemic. It has shaken the confidence of the people at an individual level. It could therefore, take a while to recover.

 

The industries in essential services will recover relatively faster while other businesses would have a a very gradual recovery. The whole size of the compressor industry has shrunk globally with the COVID-19 spread.

 

Under the circumstance, the government, society and public will have to go through a transformation to instill confidence among the people. The government alone cannot take on this onerous task, Mr. Vardaraj added.


While hailing the efforts made by the government to control the spread of the deadly virus but still Government, companies and the citizens will have to take a cut, there is no choice unfortunately.

 

When asked to share his plans for Elgi, he said, “Our aspiration to emerge as the No 2 player is still our primary focus and in some ways we are at an advantage, for we are not dependent only on one economy.”

 

He further added “In a shrunk economic condition, customers are not going to be driven by brands as much as value proposition. For Elgi, this is a good thing, for outside the country we are still an unknown brand with a Made in India label. Our value proposition is high; we expect to be slightly better placed in terms of customer receptivity.”