My research and interviews led me to uncover some fundamentalissues that I will tackle in this book. Why have some companies succeeded spectacularly in thesame challenging environment? What are the likely consequences offailing to build a strong market position in India? India appears to be at a tipping point. After decadesof being equated with Pakistan, India has increasingly come to beassociated with China in terms of potential. However, the past coupleof years have been devastating. Gone is the hubris that dared India to think itcould do better than China or even some developed countries.
That said, India does have many things going for it. Oneis the large pool of talent. It may be getting harder and costlier to findand keep good talent, but India remains one of the most importantplaces in the world to do knowledge work, ranging from managingbusiness processes to running information technology systems, and forCh Some, such as IBM , employees inIndia as of , Honeywell 20, , and Dell 28, , have lever-aged this effectively, but others, particularly European and Japanesecompanies, have yet to harness the IQ and energy of young Indians.
Offshoring and outsourcing are well covered elsewhere, and I will notspend much time on them; my focus in this book is the Indian market. The second plus is the intrinsic strength of the economy. India is a story of private success trumping public failure. Moreover, India has become more federal, with power shiftingto the state governments from the central government. Above all, there has beenan irreversible awakening of the aspirations of a billion people. Thegrowth genie is out of the bottle, and India is on an irreversible courseof development. Evenin a scenario of modest 6 percent to 7 percent GDP growth, by ,the country will have the largest middle-class population and share ofmiddle-class consumption in the world.
Yet, both con-tinue to defy the odds. Scarcely amonth goes by without the exposure of yet another scandal, such asthe 2G telecom scandal in , which Time dubbed the second-biggestscandal after Watergate. Their choice is between spending countlesshours defending themselves or paying one more tax to individuals sothey can focus on business.
The ineptness of the government in driving essential policyreforms has also become legendary. In December , a frustrated but determinedprime minister finally used all his political capital to push the measurethrough Parliament, but left the final decision to each state. Globalretailers must negotiate licenses with each state they wish to enter. According to G.
For these and other reasons, critical infrastructure projects havebeen delayed. Power plants stand idle, crippledby shortages of fuel, while million Indians were stranded withoutpower for two days in July and the citizens of the southern stateof Tamil Nadu endure daily power outages lasting twelve hours ormore. The list of woes when it comes to infrastructure is endless. They haveunprecedented discretionary powers, which they wield like a bluntweapon. India has missed an excellent opportunity to show its respect for therule of law even if it believes the law is poorly written.
That is far moredamaging than any tax revenues it could obtain by being capricious. The Indian economy has slowed to a new Hindurate of growth of 5 percent compared with the earlier 3 percent.
I worry that the Indian bureaucracy is becoming stultifying. Or is theresomething that multinational corporations are missing by jumping tothat conclusion?
This term describes well the business environment in India; itshould be spelled VUCCA, though, with the addition of another C forcorruption. So it is certainly not easy for overseas and even local corporations to do business, much less to navigate into a bright, successful future in India. He is a founder and Chairman of Social Venture Partners India, a network of engaged leaders attempting to address complex social issues through venture philanthropy. About The Author. Biz India. Related Posts. Search for:.
More search options. Why bother with the Chaos? One thing that was drag was the repeated mention of particular companies like Nokia, Microsoft,cummins,HUL,JCB the sample companies taken for case studies should have been more. Language English English. May 25, Geeta Garg rated it it was amazing Shelves: Pretty good book about the necessary mindset and corporate commitment needed to succeed in India and ultimately in other emerging markets.
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India is back! With the country's general elections in resulting in a government formed by a new political party, the Bharatiya Janata Party, led by a. Read Conquering the Chaos book reviews & author details and more at Start reading Conquering the Chaos: Win in India, Win Everywhere on your Kindle in.
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