Indian Entrepreneurship

Topic started by Mani M. Manivannan (@ pc-242-61.corp.3com.com) on Thu Jul 13 17:19:50 .
All times in EST +10:30 for IST.

Times of India Editorial on July 14, writes:

"Why is it [Bombay's industry] not reinventing itself and either changing its current business practices or finding more viable options? Therein lies the tragedy of Indian entrepreneurship. Many businesses, which have largely lived off short-term opportunism rather than built companies capable of taking on the global marketplace, can scarcely be expected to reinvent themselves overnight.

A bird's eye graph of Mumbai's industrial history reveals that the city has been built on a series of opportunistic waves perpetuated by closely-knit and mutually rewarding community networks. In the 1800s, factories came up to cater to the British demand for goods. Gujarati and Parsi traders, flush with funds, set up the first textile mills in Mumbai. By the early 1930s, following a worldwide depression which trickled down to India, the mills started going cheap and new entrants in the form of Marwari traders, fleeing their drought-ridden homeland, entered the business."

I see a similar tendency in most Indian Dot Com companies as well, except for some notable exceptions. What is your experience or opinion about Indian businesses?


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