Use crisis to unleash reforms: Mahindra

MUMBAI: Industrialist Anand Mahindra has said that US tariffs will have the unintended consequences of creating new growth drivers, and India should use the opportunity to unleash reforms like in 1991 and promote tourism as a forex engine. In an elaborate post on X following the tariff announcements, the Mahindra & Mahindra chairman outlined his two proposals – creating a genuine single-window clearance system for all investments, starting with willing states aligning to a national platform to deliver speed, simplicity, and predictability and draw global capital; and positioning tourism as a major foreign exchange earner by fast-tracking visas, improving facilitation, and developing secure, hygienic tourism corridors around key hotspots as models for national standards. Mahindra said that the friction with the US has nudged Europe to rethink its security dependence, leading to higher defence spending.