Seize the day as world pulls away from China: Anand Mahindra

"Unshackling ourselves from China is a good development for the rest of the world and long overdue," said Mahindra & Mahindra's chairman, Anand Mahindra.

Amid a global disruption in the supply chain, "India may well be one of the beneficiaries of this 'sourcing' diversification," for the world, he said.

Addressing shareholders at the 76th Annual General Meeting of virtually for the third year in succession, Mahindra said, India could be the new player in the supply chain.

For the last few decades, all roads led to China said Mahindra, but there has been a change in the situation.

"We are going to be the beneficiaries of a geopolitical realignment in threat perception. The situation is rife with opportunities. We have but to seize the day," he added.

Those lamenting the demise of a global supply network "are ignoring" the fact that the disruption is in the China-dominated global supply network rather than the true global supply chain, he said. "Nature abhors a vacuum, and other countries, including ours, will rush to fill it," he added.

The chairman of India's largest tractor maker said businesses everywhere have felt the pain of supply chain disruption and at M&M, one of the main reasons for the long waiting periods for delivery of its SUVs is the shortage in the supply of semiconductors.