Mahindra to expand businesses in Sri Lanka

Mahindra & Mahindra (M&M), one of India’s most trusted companies, has strengthened its expansive international presence and is now on a major expansion drive for its range of businesses in Sri Lanka. It is going into the largest vehicle export market for the group, by offering its two-wheeler and aviation segments; the group is also keen on exploring possibilities in financing, hospitality, housing and IT sectors.
The group has already sold its first aircraft in Sri Lanka and will launch its scooters by the end of this year. “We are not looking at Sri Lanka through the prism of only one business, but as an integrated part of the group. For Mahindra, Sri Lanka is a complete strategic fit for our entire range of businesses,” said S. P. Shukla, president, group strategy, and chief brand officer.
Because of its integrated approach towards the island nation, the Mahindra Group sponsored the Sri Lanka Premiere League (SLPL), to create brand awareness. “Our sponsorship of the SLPL signals our intent to both expand and deepen our relationship with the country as it moves steadily towards greater economic progress,” said Shukla, who is also group executive board member. He further elaborated future plans for the company’s foray into the Sri Lankan two-wheeler market by the end of this year. M&M intends to launch the scooter, and later introduce motorcycles. All the products will be imported from India to Sri Lanka, which is currently the company’s largest export market, and will be sold in India through Ideal Motors. Through its Aerospace’s subsidiary Gipps Aero, M&M has sold its first small aircraft, GA8 Airvan, in Sri Lanka. Ideal Favourite Aviation is its marketing, sales and service representative in the country. (September 2, 2012)