The Hindu Business Line : `Cos should develop business through core competencies'

THERE exists several models by using which Indian companies can become globally successful corporations. But the secret of becoming internationally acclaimed lies in developing models that suit the individual company set-up, according to Mr Ravi Uppal, Past Chairman, CII Karnataka, and Vice-Chairman and Managing Director, ABB India Ltd.

Summing up the deliberations of a meeting on creating Indian multi-nationals here, Mr Uppal said that there are various options open for Indian companies such as developing expertise on low-cost production and capturing global markets like in the case of Jindal Vijayanagar Steel Ltd or providing good value to the consumer through operating from global locations, like in the case of i-flex solutions.

Companies should however make their choice wisely and develop their businesses through their core competencies. The meeting also had a presentation from Dr S.K. Gupta, Executive Vice-Chairman, Jindal Vijayanagar Steel Ltd, Mr R. Ravisankar, CEO, International Operations & Technology, i-flex solutions Ltd, and Mr Ulf Noprdqvist, Managing Director, Volvo India Pvt. Ltd, all of whom shared their different experiences and strategies in aspiring to become global players.

Overall, Strategicon 2003, the two-day conference organised by CII Karnataka, aimed at evolving strategies for creating the Indian multi-national, witnessed many interesting presentations and deliberations, which offered a variety of views and pointers towards improving global competitiveness of Indian companies.

The most relevant thoughts and suggestion that emerged from the conference dwelt on finer points that the companies needed to follow to achieve the objective and underlined the need for the Indian companies to strive to achieve excellence in their operations, revolving around their core competencies.

Mr Arun Bharat Ram, Past President, CII, and Vice-Chairman and Senior Managing Director, SRF Ltd, said one must be prepared to be patient, and look at international business as a long-term proposition.

Speaking at the same session, Mr S. Gopalakrishnan, COO & Deputy Managing Director, Infosys Technologies Ltd, said that entering international operations should be done through a systematic process, which considers all options, including country evaluation and evaluation of all critical success factors for the company abroad.

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