Word: indianizing
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...India's manufacturing sector isn't being driven exclusively by multinational cash and expertise. The country has a base of homegrown companies, like the Tata group, that are developing quickly, some of them with burgeoning international operations of their own. (See Tata story.) "Many Indian companies are dreaming of being world class," says Sanjiv Bajaj, executive director of Pune-based scootermaker Bajaj Auto. They're eliminating redundant staff, streamlining management and investing in modern production lines. A decade ago, Bajaj made one million two- and three-wheeled vehicles with 24,000 employees; today, it churns out 2.2 million with...
...Indian companies have improved, and decrepit infrastructure adds about 2% to 5% onto the costs of doing business in India compared to China, estimates Deloitte Touche Tohmatsu. Much of India's clothing and textile industry, for example, remains a patchwork of smaller producers that can't match the scale of Chinese companies. A McKinsey study found that Indian apparel makers are half as productive as Chinese firms due to poor management and a lack of training and technology. McKinsey figures that a man's shirt costs about 23% more to produce in India than it does in China...
...Indian government estimates that the nation needs $200 billion of new ports, roads and other infrastructure. In December, the shipping ministry announced a $22 billion program to double the capacity of the country's ports by 2012; India has also embarked on a $50 billion program to add or modernize 40,000 km of highways over the next several years. The government is facing stiff opposition to another major reform of the country's onerous labor laws from labor unions and leftist politicians, but it is trying, at least, to get the process started. It is championing special economic zones...
...group's global clout means its chairman's thoughts on the world economy are worth listening to. The group comprises 93 companies, including the world's second largest tea business (Tata Tea); Asia's largest software firm (Tata Consultancy Services); a steel giant (Tata Steel); a worldwide hotel chain (Indian Hotels); and a sprawling vehicle-manufacturing arm (Tata Motors) that includes a bicycle factory in Zambia and a project to make a car selling for $2,200. Since Ratan Tata became chairman in 1991, he has multiplied Tata group revenues seven times to an annual $21.7 billion. Since...
...after independence in 1947, the group came to symbolize all that was bad about Indian business. It lost its airline and insurance arm to nationalization. To avoid giving up more to the Congress Party socialists who ruled India for half a century, J.R.D. Tata, a distant cousin of Ratan Tata, emphasized individual companies over the group, keeping the conglomerate's stakes small and demanding little coordination. Meanwhile, shielded from competition by the restrictive bureaucracy of the "license Raj," Tata's companies became bloated and calcified. "We weren't driving ourselves hard enough in a protected environment," says Ratan Tata...