In March 2018, Pawan Munjal (Pawan), chairman of India-based Hero MotoCorp Ltd (HMCL), the largest two wheeler manufacturer in the world, addressed investors and touched upon the initiatives taken by the management during the fiscal year 2017-18 to meet the ever-changing industry requirements. Amid growing challenges in terms of regulatory criteria – becoming compliant with Bharat Stage (BS) IV standards by April 01, 2020; investing in the development of new technologies; and needing to diversify to meet the increasing competition – the management of the company had been positive and clear in its objectives of meeting shareholders’ expectations, he said. Pawan also expressed confidence about the growth of the Indian automobile industry in future and hoped that its share would increase to 12% of the Gross Domestic Product (GDP) by the year 2026. However, he was of the view that in order to maintain the vibrancy of the overall industry environment in the coming years, efforts had to be made to sustain and improve the market position of the company...

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