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00:00Mr. B. Thyagarajan is in conversation with Samina, the stock was up about 11%.
00:05Let's get a sense of what Mr. Thyagarajan has to say.
00:10Retail, which will open up also the food supply chain and the labor reforms,
00:20the government had done enough in the last term and it is time that we go ahead and implement that.
00:27These are my broad takes.
00:29Sir, you talked about competing with China and we cannot get our eyes off what's happening there
00:35and the fact that there is a cost that they seem to be winning over us now and then.
00:43In order to boost exports, first give me a sense of how significant is exports for a company like
00:48Blue Star? What is your plan? Where do you want to see exports in the next three to five years?
00:53And more importantly, what does the government or policy makers need to do
00:57in order to make Indian companies like yourself far more globally competitive?
01:05So the exports of, first I will talk about Blue Star, that we have been a player in the
01:15Middle East market. We decided to expand our footprint in Europe and America and due to
01:25decarbonization initiatives to move away from gas-based heating, air-to-air or air-to-water
01:37heat pumps market, you'll be reading about it, both Europe and US have been looking at how this
01:45can be enabled. And the technology for this is available only in the East. It has to be Japan
01:53or Korea or China and India. Blue Star has the technology. Because we had to compete with
02:00Japanese and Korean players, we invested and developed these capabilities. So our interest
02:08is to leverage this in the international market. One, for geographical de-risking, India itself
02:16is growing and other than that, we should have international presence as well. It also gives us
02:23an opportunity to learn global standards. This is where we are. Now, it is going to take time.
02:32Each country, you have to develop product according to the standards prevailing there in
02:37terms of many regulations, refrigerant or energy efficiency. We are on that particular path.
02:46Second thing is you are going to compete with China and Korea, who have the advantage of
02:53having begun this journey long ago. Two is their domestic scale helps them to compete there.
03:02So we have to look at how we can go ahead and bring down the cost.