Demonetisation has severely impacted India?s after-market business in spare parts, components, consumables and replacement components like wear parts, tyres etc, because so far this market has been predominantly cash transaction-driven. In addition to the retailers or dealers, even large corporate suppliers are being burdened with high outstanding payments towards such supplies.

Payment collection for after-market supplies and services has always been a challenge in India. Now the customers are conveniently using demonetisation as an excuse for non-payment of dues, thereby adding one more dimension to this challenge.

Manufacturers of OTR tyres like CEAT, BKT, ATG and Apollo had a significant presence at the recently concluded BAUMA CONEXPO INDIA 2016 at Gurugram. Impressive display of a wide range of new generation and application-specific OTR tyres marked the occasion. Overall enthusiasm prevailed in this component segment from their rightful expectations of growth piggy backing the high traction in roads and mining sectors in India.

Similarly, allied industry sectors in hydraulics, electronics, equipment management systems, engines, transmissions, skill development and many others joined were present at this expo showcasing their latest and high-tech products, for attracting the Indian buyers.

Overall the industry sentiment is positive as they prepare to start the new year with a bang.

Wishing all our readers A Very Happy, Prosperous and Profitable New Year 2017