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The Strategies that have been undertaken are explained below:
Expanding to serve the domestic
market
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Expanding in the domestic market by
getting into additional segments (launching new products and
services), and/or increasing market share in existing ones |
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Increasing investments for capacity expansion
and improving technology, processes, people and infrastructure
Increasing acquisitions to fuel growth and acquire new capabilities
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Developing products for the domestic and global markets
Apart from catering to the growing domestic market, Fortune 500
companies are leveraging India's large domestic market to develop
products for global consumers. The following are some examples of
companies developing products in India for global markets:
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Ford India exported 28,000 Ford Ikons
in completely knocked down (CKD) form to South Africa, Mexico
and Brazil in 2003. Ford has also exported Ford Ikon components
worth more than $10 million per annum to China since 2002. At
a sales growth of 30%, Ford India recorded its best-ever performance
in India in 2004, and already, in a period of less than five
years, the company's operations in India have started generating
positive cash flows. |
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Saint-Gobain has been aggressive on the exports
front, especially in the case of float glass. Saint-Gobain Glass
started exporting within 55 days of beginning production at
its plant in Sriperumbudur. By December 2000, almost 40% of
the production was being exported to markets across the world.
While focusing on the domestic market, the company has proactively
approached exports as an opportunity to not only grow volumes,
but also improve itself by competing in global markets. |
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MICO is the second-largest auto component exporter
in India. It exports components for the complete range of fuel-injection
equipment, parts for gasoline engines, spark plugs and auto
electricals. |
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Volvo exports components from India for Volvo,
Renault and Mack trucks, as well as completely built units (CBU)
buses to South Asian Association for Regional Cooperation (SAARC)
countries. |
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Whirlpool is exporting refrigerators and washing
machines to South Asia, Asia-Pacific, Latin America and West
Asia. It also exports small kitchen appliances under its Kitchen
Aid brand to the US market. |
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Toyota manufactures multi-utility vehicles (MUVs)
in India and recently launched a manufacturing unit to produce
transmission components (gear boxes) for its global operations. |
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