THE WORLD IN 2025
FORUM FOR GLOBAL KNOWLEDGE SHARING
GLOBALISATION OF CHINESE AND INDIAN ENTERPRISES
MUMBAI, NOVEMBER 2-3, 2007
Françoise Pardos, Pardos Marketing,
Conclusions, strategy for India
In the general global scene, now and in the next twenty years, India definitely has a place of its own, unlike any other country or area. First, it seems important to differentiate between:
Domestic demand, as India is to become a world in itself, self-sufficient, another US or another Europe, a major world area.
Neighboring country demand, that Indian manufacturers can supply
Global expansion, with strategy of large and smaller players.
The potential is huge and fully open to many strategic routes, among the three above, or combining them.
Of primary importance for India is the domestic development, with a very open world presence, accepting to import what is less profitable to produce at home, and looking for export of added-value, internationally demanded products.
China is not the best example to follow for India, with too much emphasis on exports, not enough on developing the domestic market. The US or Europe developments are better general models for India future, unless India develops its own creative model.
This attitude does not prevent a strong presence in the global scene, making known the skills and abilities, the cost advantages of the Indian industry for higher value products, labor intensive assembly work, sophisticated goods, emphasis on quality, creativity, reliability, fast delivery, professionalism, all features that rival China has not quite yet achieved. There is a great opportunity for India to establish an image of high quality, an advantage that China has not yet mastered.
The trend has started with a number of Indian companies becoming global, and this is another facet of the international development of India, in many industries, in steel, etc.
The target for India is to achieve a good balance between domestic consumption and exports, and a gradual and clever entry into the world markets, with emphasis to the closer areas, South East Asia, Middle East, East Africa.
Partnerships and contracts must also be established with high level technology with European, Eurasian and American top players, with India groups often able to take a dynamic upper hand.
The image that India must create and care for is that of high quality, cutting edge technology and professionalism, to be different from the commodity oriented rest of Asia, and to stay several steps ahead in the higher added value products in international trade.
The idea is to be present in the best of both worlds, a strong, diversified and growing domestic market, and high quality, higher value presence on the global scene.
There was a very detailed presentation of India challenges and future, made by the OECD General Secretary Angel Gurria.
This presentation is the first OECD Economic Survey of India, a recent source of interest.
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