“Chinese investors are not looking at established mega-corps, but instead they are looking at new companies that can be scaled up to support by way of capital and technology.”
Eleven of the world’s top Fortune-50 companies by revenues, for the last fiscal 2016 are Chinese. There were none from the dragon country in that list a decade ago in 2007. That’s the result of the unstinted hard work of the previous two
decades (1990-2010) that has catapulted Chinese corporations in the impressive list of world’s who-is-who. Interestingly, ten are state owned corporations and only one from the private sector since about 75% of all businesses in China are directly or indirectly government owned unlike India where most businesses are privately owned. None from India have yet made to the select list of top 100 global giants.
The time has come for Indian entrepreneurs to think exponential growth and partner with large Chinese corporations since the two countries together are currently estimated to contribute nearly half of the global economic growth over the next decade. Cooperation in terms of technology, capital and target markets along with the pursuit of right policies can help achieve strong, sustained, balanced and inclusive development that can ensure widespread prosperity and promote horizontal growth of the people in the two countries that host one-third of the world’s population.
India’s decade has begun that will see her gross domestic production (GDP) doubling to nearly $4 trillion by 2025. With robust democratic institutional infrastructure India can absorb and profitably invest large scale foreign direct investments (FDI) and also offer a domestic driven consumer market for increased production without solely relying on exports.
This story is from the June 2017 edition of Indian Economy & Market.
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This story is from the June 2017 edition of Indian Economy & Market.
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