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Internationalization of Indian Firms: Overseas Investment a Key Strategy

Internationalization of Indian Firms: Overseas... I INTRODUCTION Outward Foreign Direct Investment (OFDI) by Indian firnis is currently being witnessed as a significant force in the globalization of Indian economy. Decade of 2000s has experienced a strong emergence of Indian investment abroad. Firms such as TnTn, Birla, Mittal Steel, Reliance, Airtel, Sundaram fasteners and others are a part of this globalization drive. These Indian firms in their quest to go global and participate in an ever expansive global business activity have not only ventured into developing countries, but also into industrialized countries. However, this phenomenon is not new. From a historical perspective it is understood that many firms from developing countries have gone to the foreign shores in the 1960s, 1970s and 1980s. In fact, the first overseas Indian venture was a textile mill set up in Ethiopia in 1956 by Birla group of companies (Lall 1986:13). Although this particular project remained abandoned for long years, the pace of Indian investment did not stop with that episode. Rather the spurt has been significant, so much so that the number of ventures including production and implementation had reached 133 in 1976 which further shot upto 228 in 1983 (Ministry of Commerce, Government of India, 1984). http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

Internationalization of Indian Firms: Overseas Investment a Key Strategy

Journal of World Investment and Trade , Volume 12 (4): 29 – Jan 1, 2011

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190011X00274
Publisher site
See Article on Publisher Site

Abstract

I INTRODUCTION Outward Foreign Direct Investment (OFDI) by Indian firnis is currently being witnessed as a significant force in the globalization of Indian economy. Decade of 2000s has experienced a strong emergence of Indian investment abroad. Firms such as TnTn, Birla, Mittal Steel, Reliance, Airtel, Sundaram fasteners and others are a part of this globalization drive. These Indian firms in their quest to go global and participate in an ever expansive global business activity have not only ventured into developing countries, but also into industrialized countries. However, this phenomenon is not new. From a historical perspective it is understood that many firms from developing countries have gone to the foreign shores in the 1960s, 1970s and 1980s. In fact, the first overseas Indian venture was a textile mill set up in Ethiopia in 1956 by Birla group of companies (Lall 1986:13). Although this particular project remained abandoned for long years, the pace of Indian investment did not stop with that episode. Rather the spurt has been significant, so much so that the number of ventures including production and implementation had reached 133 in 1976 which further shot upto 228 in 1983 (Ministry of Commerce, Government of India, 1984).

Journal

Journal of World Investment and TradeBrill

Published: Jan 1, 2011

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