'Crisis we mustn't waste': Anand Mahindra sees opportunities in 'global meltdown'
Mahindra said there are opportunities India needs to leverage to come out of the ongoing crisis
- Mar 9, 2020,
- Updated Mar 9, 2020 3:39 PM IST
Anand Mahindra, the Chairman of Mahindra Group, has said India should make the most of the slump in global oil prices. Mahindra said there are opportunities India needs to leverage to come out of the ongoing crisis. He advised the government to take advantage of the lower oil prices to increase consumption and also improve the country's fiscal deficit.
Mahindra also advised government to soften regulations for international investors who would now be looking towards India as an alternative manufacturing hub to China. He further suggested stepping up the Clean India campaign and making the country more attractive to tourists.
Oil prices fell crashed on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. China's efforts to curtail the coronavirus outbreak has disrupted the world's second-largest economy and curtailed shipments to the largest oil importer.
Also Read: Oil plunges 30% after Saudi Arabia launches price war
Also read: Oil prices will ease if global tensions do not flare up: Oil minister
Also read: Coronavirus effect: Asian shares tumble, oil prices plunge
Anand Mahindra, the Chairman of Mahindra Group, has said India should make the most of the slump in global oil prices. Mahindra said there are opportunities India needs to leverage to come out of the ongoing crisis. He advised the government to take advantage of the lower oil prices to increase consumption and also improve the country's fiscal deficit.
Mahindra also advised government to soften regulations for international investors who would now be looking towards India as an alternative manufacturing hub to China. He further suggested stepping up the Clean India campaign and making the country more attractive to tourists.
Oil prices fell crashed on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak. China's efforts to curtail the coronavirus outbreak has disrupted the world's second-largest economy and curtailed shipments to the largest oil importer.
Also Read: Oil plunges 30% after Saudi Arabia launches price war
Also read: Oil prices will ease if global tensions do not flare up: Oil minister
Also read: Coronavirus effect: Asian shares tumble, oil prices plunge