Davos 2026: Mahindra CEO Anish Shah says uncertainty is time to 'accelerate, not retreat'

Mahindra Group CEO and Managing Director Anish Shah said global companies should respond to rising geopolitical and trade uncertainty by accelerating growth rather than retreating, even as tariffs and protectionist policies disrupt global commerce.

Speaking at a panel discussion at the World Economic Forum’s annual meeting in Davos, Shah said uncertainty had become a defining feature of the global business environment, but argued that scale and execution were critical to navigating volatility.

“It is counter-intuitive, but in uncertainty, it is better to accelerate. It is better to create that strength and lead from strength,” Shah said. “You cannot be a smaller player in any industry. You’ve got to be a leader in the industry.”


Shah said the Mahindra Group, which operates across 20 industries accounting for about 70% of India’s GDP, has a presence in 100 countries and employs around 350,000 people, making it directly exposed to global economic and political shifts.

Outlining Mahindra’s strategy, Shah said the group had adopted a “think big, do less, execute flawlessly” approach, focusing on a smaller set of businesses where it has a clear competitive advantage. “We tell our leaders to accelerate, but do less—focus on a few things where we have a strength and a right to win, and execute them really well,” he said.

Shah said the group continues to grow at a strong pace across most of its businesses by combining a sharper focus on India with deeper localisation in overseas markets. “This is our home turf. This is our country. We can win better here,” he said, while adding that Mahindra was also re-evaluating its global presence to play a bigger role in key markets.

The company is increasingly prioritising markets where it can build significant scale. “We are looking at each country and asking, can we get a 10%, 15%, 20% market share, as compared to being there with 1% or 3%,” Shah said, adding that greater scale improves momentum and influence.

Addressing concerns around rising nationalism and populism, Shah said Mahindra has not been forced to exit any markets. “We actually haven’t seen that anywhere,” he said, attributing this to the group’s emphasis on local brands and local manufacturing.

Citing the US as an example, Shah said Mahindra has been present in the country for over three decades and had set up an off-road vehicle plant in Detroit. “That localisation helps significantly,” he said, noting that it allows the group to better understand local consumers and operate as a domestic player despite global trade frictions.