it could give rise to more labour troubles. But if the economy picks up again, people will start getting jobs."
When asked about the outlook for next 6-8 months in the light of brewing tension at Hero plant, he said: "I think once wage settlement is done in Hero...and once that will be done, there will be peace for sometime. We have had the wage settlement, Honda have had wage settlement."
On whether he expects excise duty increase in case of diesel price hike in the Budget, Bhargava said that as the subsidy on this fuel is going to go away in the next few
months, there is no point in raising the duty.
He also said the company is assessing the market in light of diesel price deregulation.
"We are taking a judgement on what will be share of diesel and petrol vehicles. We are taking a judgement on what will be the relative demand of petrol cars. If the policy of the government continues for diesel prices to go up to the market level we are fine," Bhargava said.
Talking about the forum meeting, he said Europe is virtually on recession, but Europe and the UK are looking for plans to do more business.
"Delegation is looking for more opportunity, but how much it will fructify... It takes time because you have to discuss to have to do due diligence," he said.