Some of our top Indian companies continue to make their mark on the global stage. They also seem to have made it a habit out off beating some of their bigger and more well established global peers in various areas of business expertise. Now, three Indian corporate behemoths, Reliance Industries, the Tata Group and Infosys Technologies - have entered BusinessWeek magazine's list of world's 50 most innovative companies. While the rankings were topped by iPhone maker Apple, the Tata Group ranks 13th, Reliance Industries 15th and Infosys 26th. What's more, the Tata Group and RIL have been ranked ahead of American industrial conglomerate General Electric (17th), German car manufacturer BMW (20th), Japanese auto firm Honda Motor (22nd) and telecom major AT&T (23rd). Wow! Way to Go, India!
It is important to look at the holistic picture and have an individual opinion rather than get swayed away by the public consensus. This is the view of the man who pioneered the retailing boom in India - Mr. Kishore Biyani, the founder of India’s largest retailing company - Pantaloon. In an article in the Wall street Journal, Mr. Biyani wrote, "Almost daily doses of bad news on television screens and newspapers have possibly done as much damage to the economy as the events on either side of the Atlantic." I completely agree with him. Mr. Biyani’s predicament is based on the fact that an overwhelming majority of Indian consumers are self-employed, who can neither get laid off nor can have pay cuts. Consider some statistics he has provided. The share of the national income represented by proprietor-run concerns and partnerships is 35%. The share of companies is around 15%, government around 25%, and agriculture around 25%. Combine agriculture and the self-employed in industry a...
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