30 September, 2020

The Outgoing Nature

Going the multinational way? Focus on organisational skills, competitive advantage.

Atul Loke
The Outgoing Nature
The pace of Indian corporate acquisitions overseas is accelerating. Sixty major deals were struck in 2004, 49 in 2003—compared to 28 in 2002. The acquisitions are across a broad front of industries—oil and gas, steel, trucks, auto components, telecom, pharma, tea, paints, infotech and others. And the acquisitions are scattered across the world—in the US, the UK, Europe, Korea, Australia, Southeast Asia and Africa.

Prior to the 1990s, hardly any Indian company had established operations abroad. They were either complacent within their domestic market or restricted by the Indian government's rules. There were exceptions, of course. Telco (now Tata Motors) sold and serviced its commercial vehicles in over 50 countries as early as the 1980s but it did not own any assets nor did it employ a significant number of people in any country other than in a joint venture in Malaysia, opened in the 1970s amidst debilitating restrictions by the Indian government. The late Aditya Birla, dismayed by conditions in India, set up several separate companies in Southeast Asia. And Laxmi...


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