Hero MotoCorp expects two-wheeler industry to recover in FY23

India’s major two-wheeler manufacturer- HeroMotoCorp hopes that the two-wheeler industry will be making a strong comeback in FY23. According to a senior company official, the omicron wave has settled down and the economy is on its way to make recovery. These factors will help the two-wheeler industry to gain momentum in the next financial year. According to the company official, the announcements made in the Union Budget this year will also help in driving the sales of the two-wheeler market. In an Investor call, CFO of the Hero MotoCorp, Niranjan Gupta said: "As we move forward, let me talk about the demand side, we have seen the GST collections at their almost highest ever at Rs 1.4 lakh crore, we are seeing now pandemic wave in Omicron actually phasing out..all the other sectors which were either stop start or not open fully are now opening. So, therefore we do expect a much broader economic recovery rather than a shallow recovery as we move forward to fiscal year 2023. We have also seen the budget which is widely focusing on capex expenditure up by 35 per cent over the last year and that would trigger a cycle not only of employment and income but also actually trigger a private capex cycle. So, I think combined all of this should have a significant positive impact on the economy in general and the two-wheeler sector in particular.”