India Inc: 2001 accolades - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

India Inc: 2001 accolades

Dec 24, 2001

The year 2001 was among the most testing times for the global economy. While the world was still coming out of the shock of the bubble, three of the world's largest economies went in to recession. If that was not enough, the global business faced an immediate problem to counter terrorism. This fuelled pessimism and more so changed the world geopolitical scenario. Several attempts by governments round the globe (read central banks) to pump prime economies showed no signs of respite.

Back home, India was no exception. More than businesses what covered financial headlines where unearthing of series of astonishing scams. Industrial activity remained in dire state, GDP growth plunged and new investments both in the public and private front remained amazingly low.

What was more exasperating for Indian business was the growing tension with our geographical neighbors. On a broader parameter, after a decade of joining the mainstream global economy, corporates still seem uncomfortable fighting global competition.

Amidst all the carnage there are some industry stalwarts, who are setting contemporary examples, serving as torchbearers for India Inc.

Let us take the pharma sector. Five years back, it would had been hard for anyone of us to believe that Indian companies would be able to survive if India recognizes product patent. However, Dr. Reddy's and Ranbaxy have proved that these concerns were totally unfounded. These companies have been able to create a brand identity in the global market, after successfully entering the generics business.

Petroleum exports by RPL to some of the world's most regulated markets, which conform to some of the most stringent norms also needs to be appreciated. Within 3 years of its operations, the company has emerged as the largest export house in the country. In commodities, Indo Gulf, Hindalco and Tisco are benchmarking themselves against the world's best in terms of cost efficiency.

And then off course we have the great software story. It is clear now, that IT companies are slowly but steadily rising the value chain and cheap labour is not their only USP.

Take Automobiles. There was complete pessimism in the air when Telco declared its Indica project. Despite initial hurdles, the country can now boost of indigenously produced car, which is competing, with some of best technologies in the world.

We should be indeed proud of our accomplishments. But considering a larger potential, this seems to be too little, too late. India's share in the world trade is still miniscule and we have a long way to go before India makes its presence felt in the global economy. As we embrace yet another year of the new millennium, let us pledge to rise from our mantles of protected environment and discover new opportunities that global competition offers, not just fight it.

Equitymaster requests your view! Post a comment on "India Inc: 2001 accolades". Click here!


More Views on News

These Stocks Have Rallied Over 300% In the Last 12 Months. Is the Rally Justified? (Views On News)

Nov 12, 2021

As many as 150 stocks from the BSE 500 index deliver multibagger returns in the past one year.

Ultimate Guide to Hedging Your Portfolio (Fast Profits Daily)

Sep 21, 2021

How can you protect your portfolio in a market crash? Find out in this video.

Ride the Indian Real Estate Revival with this 'Different' Smallcap Stock (Profit Hunter)

Mar 23, 2021

Affordability in the housing segment has never been so good in last one and a half decade. Here's how you could make the most of it...

My Latest Stock Recommendation (Fast Profits Daily)

Oct 9, 2020

How I picked an exciting stock using trends from both the commodity and equity markets.

Data is the New Oil but It's Also the New Sugar. Here's How to Fight it (Profit Hunter)

Jun 1, 2020

Is too much data hurting your quest for market beating returns?

More Views on News

Most Popular

Infosys vs TCS: Which is Better? (Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake (Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

How to Hit Rs 100 Crore Wealth in Your Lifetime (Equitymaster Wealth)

Nov 15, 2021

This is how you can achieve the ambitious goal of a net worth of Rs 100 crore.

Don't Sell these Stocks if the Market Falls (Profit Hunter)

Nov 17, 2021

These are the 3 types of stocks that you should not sell in a market crash.

MobiKwik IPO Opens for Subscription Soon. Key Things to Know Before Subscribing. (Views On News)

Nov 20, 2021

The Rs 19 bn issue is set to hit the market soon.


Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms