Only India can challenge China in supply chain says Anand Mahindra

Investments would flow into India in “unprecedented” volumes, and in the long run, the country’s capacity for disruptive innovation will lead to a rise in its economy, Mahindra said in a post on X on the New Year day. He also wished the startup sector, which is the force behind disruptive innovation, “more power”. “Globally, the world needs India to become a reliable challenger to China’s supply chain dominance. That is the great opportunity of 2024. That is what will fuel the lift-off,” he said, adding, all signs point to the Indian economy achieving the mythical “lift-off”. The opportunity for India’s manufacturing to achieve a quantum leap “is within our grasp or ours to lose”, he said, urging to seize it with both hands as growth in manufacturing and exports will enhance the consumption story and set in motion a virtuous cycle that could endure for years. Talking about the past year, Mahindra said it was a year characterised by conflict, climate change and a sluggish post-Covid recovery. The year ended with the world crying out for renewal, he said. While the rest of the world faced increasing turbulence over the last few years, India kept the engine of the economy chugging along through doses of government capital and infrastructure investment. “Now, the good news is that the consumption story is about to kick in. Companies that are able to create a portfolio of desirable products both in features and price will face the happy challenge of raising their production to meet demand.”