The World Economic Forum (WEF) Annual Meeting is a platform where business, government,international organizations and academia come together to discuss the global, regional and industry agendas at the beginning of each year.
Anand Mahindra was one of the most important attendees of the WEF Annual Meeting which is being held in Davos-Klosters, Switzerland from the 21st to 24th of January.
Anand chairs the $21 billion Mahindra & Mahindra conglomerate and is the 88th richest Indian according to Forbes. The group’s operations span 20 industries from auto to information technology but is best known for its tractors and sports utility vehicles, such as the Scorpio and Bolero. Anand also owns a small but valuable stake in Kotak Mahindra Bank.
Anand compared the current scenario of the country to that of a Shakespeare plot and said,
“It’s a major Shakespearen plot right now but I think it’s a plot that doesn’t end in tragedy at all.”
“ The film is being produced and I think it’s going to be a blockbuster. ”
He said detoxification of the Indian economy was happening currently and proceeded to talk about the Indian prime minister, Narendra Modi being “obsessed” with a certain kind of growth, which he then described as stated below.
“The kind of growth he (Modi) wants is transparent and free of any kind of corruption.”
Anand was a strong advocate for GST (Goods and Services Tax) and said he was glad it was in action. He added that demonetization and GST were helping with the detoxification process. He also had to say the following about it.
“Making it impossible for people to work in a non transparent manner ”
But also admitted that it had caused disruption for traders that had previously been used to working off the radar and was an ongoing adjustment process.
“The government is taking the right steps and the auto industry was already beginning to see signs of life.”
See video here:
Anand was optimistic about India’s rise in the next fiscal year which begins in April.