India’s economic recovery will be led by farmers, says Anand Mahindra

Hemani Sheth Mumbai | Updated on June 02, 2020 Published on June 02, 2020

Anand Mahindra, Chairman, Mahindra Group   -  AP

Mahindra Group Chairman Anand Mahindra on Monday said that India’s economic recovery will be led by the farmers of the country.

Referring to a media report on Mahindra and Mahindra’s sale of tractors, the Mahindra chairman said that the economic recovery will be led by farmers as we go “back to basics.”

“Economic recovery will be led by our farmers...’Back to basics’” Mahindra had tweeted.

According to the numbers, as quoted by CNBC-TV18 and retweeted by Mahindra, 24,341 Mahindra and Mahindra tractors were sold in May 2020. Domestic tractor sales were up 2 per cent from the same time period last year amounting to 24,107.

Mahindra has been quite vocal on the micro-blogging platform about the crisis and what it means for businesses. Earlier this month, Mahindra had said that the extension of lockdown with stringent rules could lead to an “economic harakiri”.”

“If the lockdown is extended for much longer, we will be risking economic hara-kiri. A functioning & growing economy is like an immune system for livelihoods. A lockdown weakens that immune system and most hurts the impoverished in our society,” Mahindra had tweeted.

India is facing a major economic impact of the lockdowns imposed since March 25 to curb the spread of Covid-19 in the country.

Since the beginning of the Covid-19 crisis in the country, the Mahindra chief has emphasized on businesses preparing for an economic recovery considering this crisis to be an opportunity to “hit the reset button.”

“The ‘VirusCrisis’ presents business with challenges but also some unprecedented opportunities: We’ve acquired a precious resource: time for reflection. Use it to review strategies & portfolios. Press the RESET button & recalibrate all costs & overheads,” Mahindra had said in a tweet.

“Associates will have more time: solicit their ideas for business improvement. Use the lull to build deeper personal relationships with customers. We don’t know how long the containment might drag on, but prepare the business for a U or even V shaped recovery!” he had added.

Published on June 02, 2020
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