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'Reset' of Indian business environment, says Anand Mahindra on Tata Sons winning Air India bid

Mahindra says the government with this move is not just dispensing of a cash drain but also renewing its faith in the private sector.

October 08, 2021 / 09:36 PM IST
Mahindra Group chairman Anand Mahindra (File image)

Mahindra Group chairman Anand Mahindra (File image)


The head of the Mahindra Group conglomerate Anand Mahindra took to Twitter to cheer the government's announcement of Tata Sons winning the bid for Air India.

Calling it a ‘reset’ of the Indian business environment, Mahindra said that the government with this move is not just dispensing of a cash drain but also renewing its faith in the private sector.

"I may be accused of overstating the importance of this event but I think this divestment amounts to a 'reset' of the Indian business environment. Yes, the Govt. is dispensing of a cash drain; But it's also renewing faith-after decades-in the potential efficiency of the Pvt.sector," Mahindra tweeted, sharing a post by Tata Sons Emeritus Chairman Ratan Tata.

Tata on October 8 tweeted "Welcome back, Air India," minutes after Tata Sons made a winning bid for the carrier at ₹18,000 crore.

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The tweet accompanied a photograph of the company’s former chairman JRD Tata getting down from an Air India flight, soon after Tata Sons secured the winning bid for the national carrier for Rs 18,000 crore.

“The Tata Group winning the bid for Air India is great news! While admittedly it will take considerable effort to rebuild Air India, it will hopefully provide a very strong market opportunity to the Tata Group’s presence in the aviation industry,” Tata's statement read.

“On an emotional note, Air India, under the leadership of Mr. J.R.D. Tata had, at one time, gained the reputation of being one of the most prestigious airlines in the world. Tatas will have the opportunity of regaining the image and reputation it enjoyed in earlier years. Mr. J.R.D. Tata would have been overjoyed if he was in our midst today.” the statement added.

“We also need to recognize and thank the government for its recent policy of opening select industries to the private sector.” the statement said.
Moneycontrol News
first published: Oct 8, 2021 09:36 pm

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