2001http://dspace.iimk.ac.in:80/xmlui/handle/2259/7892024-03-28T22:01:42Z2024-03-28T22:01:42ZA Study of their Performance and Contribution in the Post-Liberalization EraKrishna Kumarhttp://dspace.iimk.ac.in:80/xmlui/handle/2259/7912020-12-08T17:21:54Z2001-01-01T00:00:00ZA Study of their Performance and Contribution in the Post-Liberalization Era
Krishna Kumar
The industrial economy of any country depends upon the role and performance of corporate leaders, be it sustained growth of national income, balancing of international trade or payments, meeting the foreign exchange requirements or mitigating national resource disadvantage, the country banks upon them to attend to such national tasks and challenges. They are the ultimate deliverers, as neither the government nor the administrators (bureaucracy) can do it. India is facing unprecedented challenges of slow down of economy, sustained adverse balance of trade and current account, intense global competition in domestic market, falling corporate performance, mounting by non performing assets and looming threat of international oil price hike. An evaluation of the performance of and the role played by corporate leaders in the pre and post liberalization era is called for to identify the tasks ahead, the areas that need immediate attention and also the strategic and policy shift necessary to meet the emerging challenges. This paper analyses the economic performance of corporate leaders, their contribution to the balance of trade and globalization of Indian industry. It is noticed that as of now, preponderance of corporate leaders, both of the pre
and the post liberalization have by and large not been able to maintain the economic tempo, have not been able to contribute much to contain/ mitigate the sustained adverse balance of trade, and have done little to bring about globalization of Indian industry to the extent necessary. They have also been observed to continue looking inwards and thriving by following the strategy of the past: creating and meeting domestic demands through import of technology rather than emerging as global players. There is a need for major shifts in their stand to make India become a global player and reduce country’s strategic dependence on international players and allow it engage in international trade by choice and on its own terms in line with the requirements of economy and society here.
1 Indian Institute of Management, Lucknow (India)
2001-01-01T00:00:00ZIndian Business Ventures AbroadSrivastava, RituKrishna Kumarhttp://dspace.iimk.ac.in:80/xmlui/handle/2259/7902020-12-08T17:22:31Z2001-01-01T00:00:00ZIndian Business Ventures Abroad
Srivastava, Ritu; Krishna Kumar
India started opening its economy a decade ago to integrate with global economy. Several economic reforms have been undertaken during this period with the hope that
India will soon merge as a global player. There is a need to review the developments
and take necessary corrective action. It is necessary because globalisation and
integration with the world economy is a double-edged sword. If necessary care is not
taken the country may become only a global market rather than emerging as a global
player.
This paper examines the patterns of India Business Ventures Abroad, both in the form
of subsidiaries and joint ventures over a period of 50 years since independence. The
analysis reveals that there has been a significant increase in the activity. The ventures,
however, have been concentrated to only a few, about a dozen, countries. The study
also shows that there is a noticeable preference towards subsidiary mode of operation.
Further, there are country-wise patterns of preferences towards use of joint ventures and
subsidiary modes. The study also reveals that there is a significant shift in the mix of
activities, tilting from high risk manufacturing to low risk trading and software
development. It is also observed that there is a wide gap between the number of
ventures approved and actually implemented. A comparison has also been drawn
between Indian Business Ventures Abroad and the Foreign Business Ventures in India
during the pre and the post-liberalisation era. This is complemented with the patterns of
export/ import ratio in the respective periods. The two together indicate that the reforms
in economic policies undertaken so far seem to be leading to India fast becoming a
global market rather than emerging as a global player. The paper then suggests that
there is a need for intensive studies for developing policy and strategic interventions to
strengthen India’s business ventures abroad and to help India emerge as a global player.
1 Research Assistant Indian Institute of Management, Lucknow (India) 2 Indian Institute of Management, Lucknow (India)
2001-01-01T00:00:00Z