Anand Mahindra’s boardroom review signals better days for Indian economy

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Updated: April 19, 2018 1:23:38 PM

Taking stock of the economy's outlook, veteran industrialist Anand Mahindra said that there is strong liquidity among consumers especially in rural areas and domestic tourism is growing strongly. However, he highlights a pain point.

“Across the board, strong demand recovery except in urban,premium real estate,” Anand Mahindra tweeted. (Image: PTI)

Signalling a major boost to the revival in rural consumption and Indian economy at large, veteran industrialist Anand Mahindra said that there is strong liquidity among consumers especially in rural areas and domestic tourism is growing strongly.  In a recent tweet, Anand Mahindra shared the takeaways from Mahindra group’s quarterly Group Executive Board meeting, which provided a 360 degree perspective on the economy which includes various segments such as Agriculture, Finance, IT, Logistics, Renewables as well as Autos. Notably, Mahindra Group has a significant presence across various verticals, and a robust review from the group could mean that the overall economic outlook is indeed upbeat. However, since it was an internal board meeting, one would assume that Mahindra was taking stock of the group’s businesses in particular.  

Sharing the key takeaways from the meeting Anand Mahindra tweeted that across the board, there is a strong demand recovery. However, urban, premium real estate was highlighted as an exception. Notably, as many as 4.4 lakh housing units were unsold in seven major cities at the end of 2017 with Delhi-NCR contributing maximum at over 1.5 lakh flats, according to a report by JLL India, highlighting the highlighting the enormity of the issue. “Noida and Greater Noida have had a tumultuous past because of which, end users are circumspect in making their purchases,” JLL had said said.

However, apart from this pain point, Mahindra observed that there is strong liquidity amongst consumers, especially in rural areas. Further, he noted that the production capacities are stretched, implying that manufacturers are putting in efforts to keep up with the rising demand.

The Chairman of Mahindra Group has been very active on Twitter. Following the recent Facebook data breach scandal, Anand Mahindra had invited proposals for creating an Indian social media platform. “To say I’m overwhelmed by the responses to my call for social network startup proposals would be an understatement! @j_bindra & I have our work cut out for us. The good thing is that it’s clear there’s an explosion in entrepreneurial energies in this country. Let the games begin!” Anand Mahindra tweeted on March 28th.

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