For consolidating indias position beyond its

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For local companies, however, the influx often appears to be a death sentence.

Accustomed to dominant positions in protected markets, they suddenly face foreign rivals wielding a daunting array of advantages: substantial financial resources, advanced technology, superior products, powerful brands, and seasoned marketing and management skills.

Slave status was honourable and was a principal avenue to wealth and high position for talented individuals whose origins were outside the ruling group.

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Strategists at multinational corporations can draw on a rich body of work to advise them on how to enter emerging markets, but managers of local companies in these markets have had little guidance.At Madras and Bombay, their fortifications were in fair condition, although their troops, besides a few Europeans, were chiefly a rabble of Armenians, Arabs, negroes, and half-breed Portuguese.In Bengal, the imperial viceroy, being himself hard pressed, had permitted their agent to fortify Calcutta, where Fort William was named after the reigning King of England.How can they overcome—and even take advantage of—their differences with competitors from advanced industrial countries?Many of these managers assume they can respond in one of only three ways: by calling on the government to reinstate trade barriers or provide some other form of support, by becoming a subordinate partner to a multinational, or by simply selling out and leaving the industry.

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