India Inc. has still a long way to go to be competitive.
India Inc., is a term familiar to readers of the Indian business press. The term appears to be a broad reference to the Indian private sector. But if justice were really to be done to the term it had better been more than that just what it now is.
It owes its inspiration to `Japan Inc.', many years ago, and more recently `China Inc.'. These terms were coined by the international business press, and were pregnant with meaning. They implied that Japanese and Chinese commerce were run like a good, well-conceived and well-integrated business organizations, in which governments, businesses and other institutions marshaled their unique resources and worked in unison with each other to accomplish clear and specific national economic objectives.
But India Inc. is no such pan-national entity. It is just a glorified term to refer to the Indian private sector, as stated earlier. The point that is sought to be made is that India Inc. must indeed be a true emulation of Japan Inc. and Chinese Inc. if this country is to make a noticeable mark in international commerce. There is indeed a profound need to create a well-integrated network of organizations, imaginatively conceived and instituted, to promote India's interests and goals in international commerce. There is a need to create a strategic instrument infused with vision, energy, power and dynamism to obtain for this country its rightful place in world commerce. |
