Rajeev Jhawar Usha Martin and His Views on Post Covid Expansion of Production.
Rajeev Jhawar has been the Managing Director of Usha Martin Limited since May 19, 2008. He is also a director of the Neutral Publishing House Limited. Rajeev Jhawar has been the Vice Chairman of Usha Martin Education and Solutions Limited since September 2010. The company has been bringing rich experience in the management of industrial enterprises for more than a decade. His leadership qualities, sharp business acumen, deep understanding of business administration and strategic decisions led the group to a high growth trajectory as a whole.
Rajeev Jhawar (Usha Martin) shares his observation about the industry post covid. After the corona virus the industry witnessed a pandemic and subsequent lockdowns disrupted overall economic activity. The Indian steel industry struggled to keep pace with the sharp fall in steel demand. Adverse market conditions forced steelmakers to cut their operations by up to 50% by the end of 2019-20 and early 2020-21. Further he also makes his views on the various stimulus measure taken by the government to enhance the growth of the economy.
Rajeev Jhawar, managing director, UML, said the various measures announced by the central government to stimulate the economy are likely to bear fruit after the monsoon. While the pandemic has not yet eradicated completely, the growth is likely to occur as all the industries had learnt to live together with the pandemic.
Rajeev said while the demand for wire rope in the international market was very modest, domestic demand in various sectors was very low due to the lockdown in the wake of the Covid-19 pandemic. Rajeev Jhawar says that their plant is currently operating at 50-55% of the installed capacity. However, export demand is good and we are supported by the depreciation of the rupee, he said. The company expects capacity to increase by the second half of this financial year once the covid situation is brought under control and domestic demand picks up.
