When the young Mahindra joined the company co-founded by his father in 1947, it was primarily a steel trader that later ventured into assembling utility vehicles. Mahindra took over as chairman in 1963, and when he hung up his boots in 2012, the group was already one of India’s largest conglomerates, its presence extending from farms to finance.
Mahindra, who believed in the strength of the domestic industry, was a member of the so-called Bombay Club, a group of leading industrialists led by Rahul Bajaj, which advocated protectionist policies in the 1970s and ’80s. However, when India’s economy opened up, Mahindra quickly spotted new opportunities and capitalized on them, vastly scaling up the group’s businesses. Currently, the Mahindra group operates in automotive, farm equipment, aerospace, defence, hospitality, financial services and information technology.
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