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'China Cannot Be World's Factory': Hero Cycles CMD Pankaj Munjal's Covid Takeaway

Hero MD Pankaj Munjal on Wednesday revealed that India has a good chance to become a manufacturing factory for the world if we learn from China amid COVID-19

In an exclusive interview Editor of Republic TV Niranjan Narayanaswamy, Chairman and Managing Director of Hero Cycles Pankaj Munjal on Wednesday revealed that India has a good chance to become a manufacturing factory for the world if we learn from China. He also appreciated the efforts taken by the Indian government to curb the spread of Coronavirus in the country. 

Speaking to Republic, Munjal said, "First, I feel proud to be an Indian. Looking at our size, demographics, medical infrastructure that we have we are at number 40-41 in the list so I think Prime Minister Narendra Modi and the government and everybody working a big salute, we can thump our chest and say well done. So I feel very happy. I hope once this all is over it will be recognised as a job well done. Remember we are facing an unprecedented fear one we have never seen before so we need to plan. 21st day will soon come to an end but we need to plan for day 22, the economy, the society. We need to plan everything."

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He added, "Hero is a private group, we are isolated from all these market conditions. We are focused on our work, we have a global leadership claim so we continue to hold what we are good at," he added. 

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'India has a good chance'

Further talking about initiatives taken by the Hero group he said, "Every time the world goes through such an extraordinary time that we are going through now, something unique happens. I was studying that in 2008 when there was a meltdown Uber was born, Airbnb was born. So the same goes now to me and my team that what new things are we ready for. I have two observations in this, first is that China will not be the same. They cannot be the manufacturing factory for the world." 

"When we work with BMW and get drawing from them as a supply chain partner first thing is trust. If they give us a drawing we have to protect it. The IP, the patent, copyright, process capability. So it's on a trust. So India as a good chance if we do good planning and get our selves together we can learn from the Chinese. They make an ecosystem and they form clusters of buyers, sellers, technology. Let us act upon day 22 and act forward," he added. 

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