The Mahindra Group is now more than ready for global competition including Tesla, said Mahindra Group Chief Executive Officer Anish Shah in a televised conversation with NDTV Profit on Thursday.
"We have a fantastic set of products. And we are ready for competition," Shah said, referring to Tesla's long-anticipated entry into the Indian market.
Speaking from the UK prime minister's residence on the occasion of the landmark India-UK free trade agreement signing, Shah underlined the significance of the pact, which he described as "a fantastic deal for India in particular" and a "win-win for both countries".
He added that the pact, officially known as a Comprehensive Economic and Trade Agreement, goes far beyond tariffs and quotas. "The warmth of the relationship between the Prime Ministers… this deal goes beyond the free trade agreement," Shah said, adding that it positions India even better on the world stage. "That's something our PM has been driving for many years now, and this is one significant step forward in that process."
On the auto industry, Shah said the deal opens up export opportunities to the UK and sets up a framework for innovation and a gradual reduction in duties. "From all perspectives, we see this as a very positive deal," he noted.
Apart from automobiles and IT services, Mahindra is also eyeing hospitality as a sector that could benefit from the agreement.
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