Mahindra CEO Anish Shah: Budget 2026 Must Prioritize Capex, Reforms, and Fiscal Discipline

• Mahindra Group MD & CEO Anish Shah emphasizes the industry's need for policy continuity in the upcoming Union Budget, focusing on infrastructure spending, capital expenditure, and fiscal discipline.
• Shah notes that recent reforms, including GST changes, have boosted demand, with manufacturing capacity fully utilized and the auto business struggling to meet market needs despite expansions.
• Mahindra plans to list its electric three-wheeler last-mile mobility business in 2027, which currently holds a 40-45% market share in electric three-wheelers.
• The company projects EV sales to grow from 7% to 20-30% of total sales, highlighting the critical role of charging infrastructure development.
• Mahindra is committed to a ₹26,000 crore capex over three years and encourages Indian manufacturing to focus on R&D, quality, and becoming a global power.

Why It Matters: Mahindra CEO Anish Shah advocates for continued government focus on capex, reforms, and fiscal discipline in Budget 2026.