India can check China’s supply-chain dominance

New Delhi: The world needs India to become a reliable challenger to China’s supply-chain dominance, which will provide a great opportunity in 2024 and investment will flow into the country in unprecedented volumes, according to Mahindra Group Chairman Anand Mahindra.

In his New Year message, Mahindra also said all signs point to the Indian economy achieving “the mythical lift-off that we have been awaiting, for decades” and predicted that in 2024 “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”.

Stressing that “a New Year is special because it always symbolises a new beginning”, he said, “No matter how dark the year has gone by, the human spirit has an abiding capacity for hope. 2023 was a year characterised by conflict, climate change and a sluggish post-Covid recovery. The year ended with the world crying out for renewal.”

The first day of the newyear opens a new chapter, a fresh opportunity for optimism and renewal, he added.

“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. Investment is going to flow into India in unprecedented volumes,” Mahindra said.

He further said, “the opportunity for India’s manufacturing to achieve a quantum leap is within our grasp or ours to lose. Let’s 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.”