India must become reliable challenger to China's supply chain dominance: Anand Mahindra

Globally, the world needs India to become a reliable challenger to China's supply chain dominance, according to Anand Mahindra. 

The Mahindra Group Chairman in his new year, message alluded to this as the 'great opportunity of 2024.' This is what will fuel the lift-off, and investment will flow into the country in unprecedented volumes, he stated. 

He added that the opportunity for India's manufacturing to achieve a quantum leap is 'in our grasp,' and said we must seize it with both hands, because growth in manufacturing and exports will in turn, enhance the consumption story, setting into motion a virtuous cycle that could endure for years. 

He mentioned that the consumption story is 'about to kick in,' and companies that are able to create a portfolio of desirable products, both in features and price, will face the challenge of raising their production to meet demand. 

'In the long run, however, what will keep India's economy on the ascent is a capacity for disruptive innovation.' That aspiration is showing up in many of the newer startups. 

'As the sun rises on 2024, it's time for Carpe Diem- it's time to seize the day. Our destiny is in our own hands,' Mahindra stated. 

Also read: India within pole vaulting distance to replace China as the factory of the world, says Anand Mahindra