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Ninety-two percent of Indian executives remain strongly committed to international growth, with 47 percent planning to expand aggressively.
In 2003, Indian firms invested US$10 billion overseas. By 2012, this had more than tripled to US$37 billion.
Accenture’s new research shows Indian companies have invested more than US$344 billion in international expansion over the past 10 years. More than 90 percent say they’re strongly committed to international growth, yet only 36 percent 36% of Indian companies fully met their international revenue and profit expectations over the last three years.
Indian companies face a more intense competitive landscape than ever before. Those seeking international expansion face multiple external and internal challenges.
Lack of understanding of overseas markets: Indian companies are rapidly losing their advantage as low-cost producers, as consumers demand higher-quality and more innovative, customised products.
Inability to navigate regulatory complexities: Indian companies need to understand and manage multiple regulatory regimes and diverse business practices to achieve successful international expansion. The ability to comply with different regulatory requirements at home and abroad will be a key advantage.
Weak brand or reputation in overseas markets: Indian companies need to understand that a strong brand image not only enables their companies to attract customers, it also plays a critical role in recruiting and retaining top talent.
Inability to attract and retain talent: Accenture research reveals Indian businesses find it more difficult than other Asian companies to attract and retain overseas talent, partially due to low brand recognition and the need for a compelling employee value proposition.
Cross-border cultural issues: Cultural barriers and unfamiliar environments limits Indian businesses’ ability to win trust from managers and employees they encounter in their quest for international expansion.
Lack of globally minded leaders: Lack of a global mindset within a company’s leadership team can cause leaders to underestimate the risks and rewards of overseas expansion. As a result, leaders may mismanage risks and miss out on business opportunities.
Accenture has the experience and skills to help Indian companies at any stage of their globalisation journey improve the returns from their international investments. Accenture can join you as a strategic partner to help accelerate your internationalisation strategy, realise the value of your investments and build a global leadership position.
We have helped Piramal Healthcare develop a road map for sustained growth and profitability.
February 18, 2014
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