 "Everybody is in limbo, people with money are also not spending: Anand Mahindra")
Greater Noida: Lamenting the state of ’limbo’in India ahead of the Lok Sabha elections, Mahindra GroupChairman Anand Mahindra on Wednesday said it is not only investorsbut even consumers who have chosen to wait till a newgovernment is formed.
“I have never seen at a situation where (demand slump) isunrelated to your pocket spend or the recession, there isenormous money out there. But people are saying they want towait,” Mahindra told reporters on the sidelines of the AutoExpo.
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“Everybody is in a state of limbo, I have never seenanything like this before,” he said.It is not only investors and analysts who are waiting forelections but consumers are also saying they are going towait, he added.
The overall sentiment of consumers is low and they arenot spending despite having money, which has led to slowdownin auto sales, among others, Mahindra added.
He, however, declined to comment on which party coming topower would be good for the country, but said with theemergence of AAP, a significant development in the Indianlandscape, whichever party comes to power “there has to bebetter governance”.He also said not much is expected from the existinggovernment in transition.
PTI