Major Expansion Plans For Usha Martin In FY 2022-23: Plans Under Preparations – Rajeev Jhawar
The commencement of the fiscal year 2021-2022 marked the onset of the second wave of the pandemic in India. Though the effects of the second wave was devastating from a social perspective, the severity of the impact on the economy was more subdued as compared to the previous fiscal. The economy continued on its path of recovery underlined by a marked increase in public sector capex spending, especially infrastructure, robust exports, services sector rebound and improved consumption levels. Rajeev Jhawar Usha martin The Ukraine and Russian conflict also led to escalating input prices of high carbon wire rods and the prices had hit an unprecedented high by early March 2022. Since international crude oil price is expected to remain firm, an uptick on the demand side is expected in the oil and gas market segment globally which will boost demand for products of the Usha Martin such as large diameter ropes and drilling lines, says Rajeev Jhawar Usha Martin MD. According to Mr. Rajeev Jhawa