GST Rate Rejig Spurs Economic Growth and Investment in India

Mahindra Group CEO Anish Shah highlighted that recent GST rate changes improved consumer sentiment, boosting consumption and sparking higher private sector investments in India. Speaking at the CNBC-TV18 Global Leadership Summit, Shah predicted an 8-10% economic growth potential over the next 20 years, supported by increased production capacities.

Recent changes in the Goods and Services Tax (GST) rate have significantly improved consumer sentiment and increased consumption, according to Anish Shah, CEO and MD of Mahindra Group. This shift is expected to lead to enhanced private sector investments aimed at expanding production capacities.

Speaking at the CNBC-TV18 Global Leadership Summit, Shah emphasized the robust growth potential of the Indian economy, predicting an impressive 8-10% growth over the next two decades. He noted that several industries are already operating at over 80% capacity utilization, a sign that further investments are on the horizon.

The Mahindra Group has responded proactively by expanding its production capabilities. The company has quadrupled its automotive production capacity and increased its tractor business operations by 60%, signaling robust demand and continuous growth in its key segments.

(With inputs from agencies.)