m&m agm: Seize the day as the world moves away from China: Anand Mahindra

“Freeing ourselves from China is a good development for the rest of the world that is long overdue,” he said Mahindra and Mahindra Chairman, Anand Mahindra.

Amid global supply chain disruption, “India may well be one of the beneficiaries of this sourcing diversification” for the world, he said.

Addressing Shareholders at the 76th Annual General Meeting

For almost the third consecutive year, Mahindra said, India could be a new player in the supply chain.

For the past few decades, all roads led to China, Mahindra said, but the situation has changed.

“We will benefit from a geopolitical realignment in threat perception. The situation is rich with opportunities. We just have to seize the moment,” he added.

Those lamenting the demise of the global supply chain are “ignoring” the fact that the failure is in the China-dominated global supply chain, not the actual global supply chain, he said. “Nature does not like a vacuum, and other countries, including ours, will rush to fill it,” he added.

The chairman of India’s largest tractor maker said businesses around the world have felt the pain of supply chain disruptions, and at M&M one of the main reasons for long waiting periods for its SUVs is a shortage of semiconductors.