Andhra Pradesh - Hyderabad   

Call for Indian firms to change outlook

Staff Reporter

Focus on more productivity, R&D, says marketing expert

HYDERABAD: Indian companies need to have a global outlook and adopt best practices in manufacturing and research to be part of the competitive world, according to Jagdish N. Sheth, Charles H. Kellstadt, Professor of Marketing, Goizueta Business School, Emory University, Georgia.

Speaking on `Management 2005-New Paradigms for India's competitiveness' - at the 17th annual convention of Association of Indian Management Schools (AIMS) being held here, Prof. Sheth said India has emerged as the fourth largest nation in terms of purchasing power parity (PPP) and it now needed to realign its strategies as it was on course to being the third largest by 2025.

He said the situation called for a change in the way Indian companies approached business. They should focus on improving productivity with a strong emphasis on research and development. The Government should also supplement the efforts.

`Look at China'

Prof. Sheth reminded that China has emerged as a global producer because of its focused approach and strong Government measures.

He said the global economies were changing fast and calling for re-alignment of approach to taking a larger share of business and trade pie. The alignment with the US would have a greater impact on large economies like India.

The three-day convention is being attended by delegates from 400 management schools.

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