India's Global Strategy – A Formidable Act on the International Stage

Abstract

It's not all of a sudden that India has emerged as a formidable challenge to most of the other countries be they the developed countries or the developing ones. The preparation was on. It took its own gestation cycle to churn the results. India has been shaped and honed by stalwarts like CK Prahlad, Amartya Sen, Sumantra Ghoshal, Gita Piramal, Shiv Khera, Promod Batra, Ram Charan, Vijay Govindarajan, Rakesh Khurana, JRD Tata, GD Birla, who have laid a strong foundation to the Indian business and management. Combine these business thinkers' ideals in management with those of the indomitable spirits of APJ Abdul Kalam, the economic advisors, the brilliant professors in the top institutes like IITs, IIMs, and the hardworking researchers and professionals from India. In yesteryears, Chanakya, Ashoka, Mahatma Gandhi, Rabindranath Tagore, Radhakrishnan, CV Raman, JC Bose and many more, all have bhown that India cares for both knowledge and nationality. Gandhiji managed the entire strategy for India's freedom. Gandhiji's salt movement (Dandi march), Satyagraha and Quit India were the strategic moves. He drove the strategy with British East India Company with the ultimate goal of independence. That very independence gave us the freedom to trade and to manage business in the international landscape. Even when some of them are no more and some of them work overseas, their attitude was⁄ is nevertheless tuned towards India and its success that has set the dice rolling. And that's what makes all the difference. The Indian culture permits assimilation of other cultures to such a great extent that the richness is reflected in its business too now. All the above great thinkers have travelled, worked, operated, managed and excelled in many parts of the globe. How many countries do we find where the citizens have excelled not only in their soils but also in other lands? Hardly any. The same richness when extended to our strategy makes it truly global and competitive with the rest of the world's. What makes it so unique? First, the wisdom and knowledge are not created, it's born here. Second, the ‘Indian’ strategy has gone through several phases and abided by all rules of the game. That gives it the ability to change some too. Third, India has welcomed all changes with doors open. There is hence no chance of missing out on being global. India's global strategy is a blend of business intelligence and management values. There is no other country which can emulate this combination, and hence we are unique. India's global strategy is not merely about its trade and FDIs but much beyond the realms of business. It encompasses the management of the relationships with the other countries, the customers therein, the channels present there and the government ruling there. All these give added advantage of sustainability of India's leadership amongst the emerging markets. It's not a false claim given the recent crisis that affected the whole world directly on face but India has been an indirect victim and not a direct taker of the blow [see Appendix A2.2]. The companies with their multinational, transnational and domestic strategies act as portfolio managers for our economy.