Adapting to a changing international scenario is what it takes to be successful.
Monday, May 16, 2005
India is seeing a huge change in the pace of progress. With China’s economy galloping along at such a fast pace, India has to do everything in its power to keep up and finally overtake the dragon. Professor of Marketing at Wharton School, Yoram Jerry Wind says that harnessing the power of the skilled human resources available in the country will help transform India.
Chairman of ICICI Bank, KV Kamath told CNBC-TV18, that the Indian corporate scenario is embracing radical transformation wholeheartedly, as they have no option. He elaborated, “Governments create space and the environment. It is for the masses including the corporates and the individuals to really fill this space and make the country what they want to. So I think this role has to be understood and I think this is where we have seen success in countries, where this model has been adopted. Coming to the industry – Indian industry came through structurally difficult times in the last 6-7 years and I guess that every one of the surviving industry members understood that those who embraced change, those who went beyond the one-way street would succeed and they changed.”
“For example, 5-6 years back, every industrialist you met in India would say, ’The China factor is going to kill us.’ If you ask the same industrialist today ’What about the Chinese factor?’ Not a problem, we can compete. Where I find this new thought coming very clearly is the textile industry. Just two years ago, they were all saying – this industry is wiped out – and indeed due to structural changes, the industry was in deep trouble.”
Story found here.