On Modi government’s 10-point agenda:
Mahindra appreciates the decision to empower bureaucrats and encourage them to take decisions without fear, which addresses the issue of paralysis in the Indian government. He believes that the transformation of any situation in the large bureaucracy of a federal system requires the cooperation and empowerment of bureaucrats.
On disbanding ministerial groups:
Mahindra praises Modi’s leadership style and his clear agenda for progress. He believes that every decision doesn’t need to be a major reform, but rather a proactive step towards removing red tape and bureaucracy. He emphasizes the importance of making incremental progress every day and transparently communicating that progress.
On the government’s immediate priorities:
Mahindra highlights the importance of building roads to create an inclusive economy. He believes that access to markets through roads is crucial for both rural and urban areas, as it creates job opportunities and boosts rural income. He suggests that building roads should be a priority for the government, as it has a bigger impact on rural income than irrigation.
On India-US ties:
Mahindra reveals that there is great interest in the US leadership to rebuild a strong relationship with India after the Indian elections. He mentions that both Japan and China have made progress in building a relationship with India, and the US doesn’t want to be left behind. He believes that the US should seize the diplomatic opportunity to strengthen ties with India.
On the perception that the new government will tilt more toward the east:
Mahindra acknowledges that Japan has shown significant interest in India and believes that Modi is aware of the potential benefits of a strong relationship with Japan. He suggests that the PM is a practical man and will prioritize India’s economic health and role in the world. He believes that vindictiveness has no place in foreign policy and expects Modi to respond positively to the correct signals from the US administration.
On FDI in defence:
Mahindra reaffirms his support for allowing at least 49% investment in defence through the automatic route. He believes that this encourages foreign partners to deploy their technology into joint ventures. He argues that a minimum stake of 49% is necessary to attract the best technology and facilitate its manufacturing in India.
On Mahindra’s investment plans:
Mahindra emphasizes that the company has always been committed to making investments, even during economic downturns. He cites examples of investments made in the automotive and tractor plants during downcycles. He expresses readiness to invest in the defence sector if the government proceeds with the much-needed upgrade. He also mentions Pawan Goenka’s statement about considering a Rs 4,000-crore investment independent of any new developments.