Indian companies going global is not a phenomenon. Over the years, there have been three distinct waves in this direction. In the 1970s and 1980s, a few business groups like Aditya Birla, the Lohias and L.N. Mittal set foot overseas. The second wave was in the latter half of 1990s after India's economic liberalization. During this phase, the Tatas, Mahindras and the Godrej family too aggressively acquired overseas companies. Finally, in the 2000s, technology-driven companies like Infosys, Wipro and NIIT expanded.
Additionally, in the past decade, there has been a significant shift in overseas investment destinations (OIDs). In the first half, overseas investments were focused on resource-rich nations. In the latter half, overseas investments were directed toward nations offering greater tax advantages.
The above successes happened despite the slowdown of the global economy due to Covid-19. Government policies and reforms helped in boosting overseas direct investment (ODI).
For example, the government reduced restrictions on Indian companies investing overseas by removing the cap on raising funding through the pledge of shares, local assets and foreign assets. Finally, India has been instrumental in signing various memoranda of understanding (MOUS) and free trade agreements (FTAS).
While the above is largely applicable to large business houses, the presence of medium-scale family businesses was virtually nil till the early 2000s. But since then, a small group of lesserknown family businesses have established strong business ties with foreign shores.
HOUSE OF ANITA DONGRE: BUILDING A GLOBAL BRAND
この記事は Mint Mumbai の January 22, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Mint Mumbai の January 22, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Premium the watchword for SBI as Q2 profits surge
Chairman says the bank will compete on quality of service, not on deposit rates
India eyes grants, loans for Global South at COP29
India plans to leverage its climate commitments to pitch for grants and concessional loans, instead of investments for the Global South, at the upcoming climate negotiations in Baku, two people aware of the matter said.
Tata Steel's Q2 show weighed down by slow Europe revival
The September quarter (Q2FY25) earnings of Tata Steel Ltd had its share of positives even as European operations remain a drag.
Spectre of fall in revenue nixes telecom levy cut
Indian telecom service providers' hopes to get relief from levies on adjusted gross revenue (AGR) might get dashed on the Union finance ministry's revenue concerns, according to two senior officials close to the discussions.
Zomato, Swiggy face CCI heat on antitrust violation
An investigation by India's antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents show.
Trump enters just as the Fed is shifting its focus
With its second consecutive interest-rate cut this year, the Federal Reserve is attempting to boost the odds of a soft landing.
Regulator gets staff to enforce drug quality
The govt is planning to fill 250 new positions to strengthen enforcement
Govt unveils scheme for meditech industry
The government on Friday launched a scheme aimed at strengthening the medical devices industry with an initial outlay of ₹500 crore for three years 2024-2025 to 2026-27.
RATAN TATA MADE INDIA A BETTER, KINDER PLACE
Shri Ratan Tata's support for the Swachh Bharat Mission was close to my heart
Ministry cancels allocation of coal block to JSW Steel
The Union coal ministry has annulled the allocation of the Banai-Bhalumunda coal block in Chhattisgarh to Sajjan Jindal-led JSW Steel over the non-payment of a performance bank guarantee worth about ₹1,000 crore.