Last updated: Jun, 2021
The evolution of Indian multinationals spans diverse sectors, from pharmaceuticals to automotive, hotels, textiles, engineering goods and media & entertainment. Globalisation has given a new meaning and dimension to corporate India and given rise to numerous multinational companies, which have established a credible presence in the international market within a short period. In addition, Indian enterprises are acquiring companies overseas and recruiting talent across domestic boundaries. In global trade, India’s position has significantly shifted over the last 25 years, evolving in both product mix and destination markets.
Further, the multilateral expansion strategy is widely being favoured by players with strategic alliances, omni-channel presence and product localisation, which are also the key competencies required to gain an incremental international market share. Internationalisation has become critical to the competitiveness of businesses of all sizes. In the present environment, small and mid-sized enterprises (SMEs) with a global strategy can easily take advantage of cross-border activities, which offer opportunities such as revenue growth, exchange of knowledge and capability enhancement; thereby, strengthen the long-term competitiveness of organisations. Indian companies are building a strong momentum in international markets and counted among the most active players on the global stage.
Recently, a number of them have established global and regional leadership positions in industries ranging from pharmaceuticals, automotive and consumer goods, to telecommunications, infrastructure and resources. For example, Indian giants including Bharti Airtel, Fortis Healthcare, GMR Group, Mahindra and Tata Group have widespread portfolios that boast of some iconic brands such as Jaguar LandRover, Tetley Tea and Daewoo’s truck manufacturing unit in South Korea. From an era, when Indian firms entered the global markets only via acquisitions (such as Tetley and Jaguar Land Rover), to the present day, when Indian brands are increasingly penetrating international markets through their own mettle, with Mahindra Tractors plying in farms in the US and many other countries, ‘Bajaj’ bikes being sold in >50 countries and Royal Enfield’s vrooming on international streets.
Here is a report on the impact created by Indian brands in international market. Do write to us on email@example.com with your feedback.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.