Implementation of swadeshi policies have started benefitting, says Vellayan

Also says, better performance, investor confidence in India & a strong rupee have helped businesses

The year 2016-17 was the best for Murugappa Group, with a $8-billion market capitalisation -- 34 per cent growth over the previous year -- the highest-ever EBITDA of Rs 4,065 crore, and a turnover of Rs 30,023 crore (Rs 29,395 crore in 2015-16).

In an interview with Business Standard, Group's Executive Chairman A Vellayan tells T E Narasimhan that the group's relative competitiveness, aided by Centre's policy changes, have helped the company. Going forward, as part of de-reisking strategy, Coromandel International, which brings a major chunk of revenue, would reduce its dependency on subsidy business. Edited excerpts: 
 

What are the key factors