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Sir,
The rise of the Western multinationals also prompted a rise in general living standards as well as infrastructure levels in those countries. It remains to be sen if that happens in India. Another thing that may be noted is that Indian multinationals still lag on a very key aspect of the Western MNCs, product innovation. We are more interested in takeover of already existing brands.
This is not the route that Japan or South Korea have chosen. They have aggressively invested in their own brands, which are now world class. Our Videocon/ BPL/ Godrej have simply not been able to match up. Of course, this does not mean that we will not catch them in the future.
By the way, I think the author is mistaken when he says that Mittal is India based. As per my understanding, Mittal Steel was based in Holland with Mittal controlling it from London.
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