A review of strategic management research on India

In 1991 India embarked on far-reaching economic, financial and regulatory reforms, which led to not only a surge in economic growth, but also spurred scholarly interest in Indian firms, their strategies, and their business environment. As it has been almost three decades since the reforms were initiated, we believe that it is an appropriate time to take stock of the research on strategic management in the Indian setting. Our scoping review finds three dominant themes in extant research: impact of environment (specifically liberalization) on firms, strategies of firms, and the different ownership structures of firms. We discuss the key findings within these domains and identify the theories and methods that scholars have used to address their research questions. We assert that the unique Indian context — a mix of public and private economy operating within a democratic system — provides a rich environment for not only testing existing theories in strategic management but also generating new theories. We conclude by identifying several important areas of research and urging strategy scholars to engage with the opportunities offered by the evolving Indian business environment.