59. Indian Multinational Companies

The year 1992, that was when India opened up its economy and invited foreign investments. Many feared that, Indian companies would be taken over by foreign Multinationals, and would wipe out the budding Indian Entrepreneurial talent. It is fifteen years since, Indian economic reforms started rolling over; Indian industrial flag zoomed high and its fluttering with pride in the international skies; Today many business houses of India are in the acquiring spree of multinational companies world wide; Indian multinational companies are born.

1. Indian car "tata Indica" is penetrating into European market, by establishing strategic marketing arrangement with Rover.
2. Tatas have purchased the Korean company "Daewoo motors" and is consolidating its position in Korea and China.
3. Tata Iron & Steel has become 5th largest steel company of the world by acquiring the European major "Corus" for a premium prize.
4. Lakshmi Mittal, world's fourth richest person and NRI had acquired a multinational steel giant "Arcelor".
5. Ranbaxy Labs, India's top pharmaceutical company, earns 76% of its revenues from outside India. It is rated the ninth biggest generic company of the world with manufacturing locations situated across the globe.
6. Ranbaxy labs had also purchased RPG-aventis, a pharma major in the international arena.
7. Videocon, the TV manufacturing company of India, had bought the world famous TV company Thompson in the countries of China, Italy, Poland, Mexico etc.
8. The Reddy Labs is the first Indian company to be listed in NYSE.
9. Reddy Labs, Aurobindo pharma, Sun Pharma, and other pharmaceutical companies are acquiring many pharma units worldwide.
10. ONGC & IOC have purchased oil wells in the countries of Africa & Dubai.
11. Asian Paints have manufacturing plants in 24 countries. Asian Paints is considered as the leader in segment of selling paints.
12. Bharat Forge had purchased a German forging company Carl Dan Peddinghouse. With the purchase of this German company Bharat Forge has become the second largest producer of forgings in the world.
13. ESSEL Propack makes lamitubes-packing tubes for toothpastes and other cosmetics. It has 17 factories in eleven countries and is the industry leader in that sector.

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Comments

A lot of multinationals have come into India but failed – not because their products were not good, but because they failed to understand India’s culture. Globalisation has been the new trend, but ‘standardisation’ will not work always. As a marketer, you need to be sensitive to each culture’s identities and its unique regional preferences and customise your product offerings.

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