You are here: Home » Companies » News
Business Standard

Brexit an 'exaggerated tsunami alert', says Anand Mahindra

Mahindra feels that the post-Brexit negotiations are an opportunity to design a more practical global template for common markets


Press Trust of India  |  New Delhi 

Anand Mahindra
Anand Mahindra (File photo)

Mahindra & Mahindra Group Chairman Anand Mahindra said Brexit is an “exaggerated” Tsunami alert to the world which needs to “take a tranquiliser”.

After Britain voted to leave the EU, Mahindra tweeted: “Brexit is a Tsunami alert to the world that I believe is exaggerated. The world needs to take a tranquiliser.”

He said: “The European experiment was akin to rolling a boulder uphill in the absence of complete political and fiscal union.”

Mahindra feels that the post-Brexit negotiations are an opportunity to design a more practical global template for common markets and travel access.

Yesterday, industry leaders had cautioned that India cannot be in a denial mode as the referendum has opened a “Pandora's box of grave uncertainties” and Indian companies, especially IT, will have to rework their strategies for the region.

They also predicted Indian companies having to shift their operations out of the UK to other European locations.

The Mahindra group had, however, maintained that the impact on India and Indian industries will not be significant. It also added that there will be no impact on M&M and the effect on the Mahindra Group will be muted.

“As a group, our resilience will stand us in good stead and we are poised to take advantage of any opportunities that may emerge," Mahindra Group CFO V S.

Parthasarathy had said, adding Brexit would result in uncertainty in the immediate aftermath which will moderate over time.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Sat, June 25 2016. 22:07 IST