STRATEGY ADOPTED BY MAHINDRA GROUP Mahindra group has been growing by leaps and bounds in the past five years. The strategy for growth has been through expansions in domestic and overseas markets through organic and inorganic routes. The first diversification was made in 1953 with Otis Elevator (India). In the decade of 1953-63, Mahindra Group diversified into varnishes & resins, machine tools, alloys & special steels and tractors. Even today, Mahindra is known for its tractors and jeeps. Most of the+ diversifications were mainly through Joint Venture (JV) with foreign companies as M&M saw that as the route to technical know-how. M&M began manufacturing tractors in the early 1960s for the Indian market. Nearly 50 years later, M&M became the number one tractor company in the world (by volume) with annual sales above 200,000 and over 2.1 million tractors sold to date (2012). M&M made major diversification into Information Technology (IT) in 1986 to reap the benefit of the rising industry. In 1991, M&M diversified into financial sector with the setting up of Mahindra Financial Services Limited as a wholesale fund provider. On 13 April 2009, Tech Mahindra, the IT subsidiary of M&M, acquired 31% shares of Satyam Computers for Rs 1756 crores, with an option of open offer for another 20% shares for Rs 1132 crores, total amounting to Rs 2888 crores. In 2010, Mahindra and Mahindra acquired interest in the bankrupt South Korean automobile company Ssangyong to become the world’s