Mahindra Group to aid US companies to set up manufacturing base in India

Mahindra Group, a Rs 1.2 trillion diversified industrial conglomerate, said on Monday that it is poised to help American companies enhance their manufacturing footprint by helping them set up their manufacturing base in India.

The Mahindra and Mahindra stock was up 1.5 per cent in day’s trade ending at Rs 1547 apiece on the BSE.

In a statement to the bourses, Mahindra Group said that the Group will support the interested companies in a range of ways to set up their manufacturing base in India – modular plug and play suite of offerings; integrated approach to manufacturing including infrastructure, supply chain, technology, automation etc; experience sharing on regulations and compliance; as well as environmental and social governance (ESG) focus.

The company further said that Mahindra Group offers self-sufficient industrial parks at strategic locations, and has the expertise to guide companies through the approval processes. It is, however, not clear which would be the focus sectors for M&M. 

Mahindra Group has presence across automotive, farm equipment, IT, financial services, renewable energy, agriculture, logistics, hospitality and real estate. It is the world’s largest tractor company by volume. It employs 260,000 people across 100 countries.

“The Group also offers cost-effective solutions for manufacturing and logistics needs, amongst others,” the statement said.

The International Finance Corporation (IFC) – the largest global development institution focused on the private sector in emerging markets – will offer bespoke equity and debt financing solutions for these companies, the statement added. IFC has had a presence in India for over six decades.

Anish Shah, MD and CEO of Mahindra Group said that this is a dedicated platform in the US to help enhance global manufacturing and supply chain solutions for American companies.

“The initiative’s modular approach will further allow businesses to select products, services, and financing options from the Mahindra Group’s entire suite of offerings based on their exclusive requirements,” Mahindra’s statement said. The Mahindra Group also has experience in regulatory and policy matters, with an in-house team of experts, who will lend their expertise to American companies.