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Internationalization of Indian Enterprises : Patterns, Strategies, Ownership Advantages and Implications

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  • Nagesh Kumar

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Abstract

The recent spate of large cross-border acquisitions e.g. Tata Steel-Corus, Hindalco-Novelis, and Tata Motors-Jaguar/Land Rover, among others and Greenfield investments by Indian companies have helped in focusing attention on the emergence of new corporate players on the global scene. Indias emergence as a source of FDI outflows is impressive for its level of development. It is argued that the destinations, sectoral composition, motivations, and entry strategies of Indian investments have been changing with magnitudes. This paper examines the sources of Indian companies ownership advantages and trends, patterns and implications. It has been argued that the source of their ownership or competitive advantage lies in their accumulation of skills for managing large multi-location operations across diverse cultures in India and in their ability to deliver value for money with their frugal engineering skills honed up while catering to the largerpart of income pyramid in India.

Suggested Citation

  • Nagesh Kumar, 2008. "Internationalization of Indian Enterprises : Patterns, Strategies, Ownership Advantages and Implications," Microeconomics Working Papers 22113, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:microe:22113
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    References listed on IDEAS

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    1. Louis T. Wells, 1983. "Third World Multinationals: The Rise of Foreign Investments from Developing Countries," MIT Press Books, The MIT Press, edition 1, volume 1, number 026273169x, January.
    2. Nagesh Kumar, 2007. "Regional Economic Integration, Foreign Direct Investment and Efficiency-Seeking Industrial Restructuring in Asia : The Case of India," Macroeconomics Working Papers 22110, East Asian Bureau of Economic Research.
    3. Dunning, John H, 1979. "Explaining Changing Patterns of International Production: In Defence of the Eclectic Theory," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 41(4), pages 269-295, November.
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    Cited by:

    1. Nagesh Kumar, "undated". "South-South and Triangular Cooperation in Asia-Pacific: Towards a New Paradigm in Development Cooperation," MPDD Working Paper Series WP/09/05, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    2. Takatoshi ITO & Akira KOJIMA & Colin McKENZIE & Shujiro URATA, 2009. "Editors' Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 4(1), pages 1-18.
    3. Saikia, Dilip, 2009. "Outward Foreign Direct Investment from India," MPRA Paper 29079, University Library of Munich, Germany.
    4. Nepelski, Daniel & De Prato, Giuditta, 2011. "Internationalisation of ICT R&D in Asia vis a vis the world regions," MPRA Paper 39281, University Library of Munich, Germany.
    5. Basant, Rakesh & Mishra, Pulak, 2012. "How has the Indian Corporate Sector Responded to Two Decades of Economic Reforms in India? An Exploration of Patterns and Trends," IIMA Working Papers WP2012-02-02, Indian Institute of Management Ahmedabad, Research and Publication Department.
    6. repec:spr:manint:v:55:y:2015:i:2:d:10.1007_s11575-015-0242-y is not listed on IDEAS
    7. Rao-Nicholson, Rekha & Ayton, Julie (Salaber), 2016. "Euphoria in financial markets: How Indian companies generate value in their cross-border acquisitions," Research in International Business and Finance, Elsevier, vol. 38(C), pages 494-508.
    8. Rahul MUKHERJI, 2008. "The Political Economy of India's Economic Reforms," Asian Economic Policy Review, Japan Center for Economic Research, vol. 3(2), pages 315-331.
    9. Moghaddam, Kaveh & Sethi, Deepak & Weber, Thomas & Wu, Jun, 2014. "The Smirk of Emerging Market Firms: A Modification of the Dunning's Typology of Internationalization Motivations," Journal of International Management, Elsevier, vol. 20(3), pages 359-374.
    10. Iyabo Masha & Ding Ding, 2012. "India's Growth Spillovers to South Asia," IMF Working Papers 12/56, International Monetary Fund.
    11. Valeria Gattai, 2013. "The dragon and the elephant on the way to Italy," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2013(4), pages 63-87.
    12. Takatoshi ITO & Akira KOJIMA & Colin McKENZIE & Shujiro URATA, 2009. "Editors' Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 4(1), pages 1-18.
    13. Tiwari, Rajnish & Kalogerakis, Katharina, 2016. "A bibliometric analysis of academic papers on frugal innovation," Working Papers 93, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
    14. Gould, David M. & Tan, Congyan & Emamgholi, Amir S. Sadeghi, 2013. "Attracting foreign direct investment : what can South Asia's lack of success teach other developing countries ?," Policy Research Working Paper Series 6696, The World Bank.
    15. Edward J. Malecki, 2010. "Everywhere? The Geography Of Knowledge," Journal of Regional Science, Wiley Blackwell, vol. 50(1), pages 493-513.
    16. Kearney, Colm, 2012. "Emerging markets research: Trends, issues and future directions," Emerging Markets Review, Elsevier, vol. 13(2), pages 159-183.
    17. Nagesh Kumar & Alka Chadha, 2009. "India’s Outward Foreign Direct Investments in Steel Industry in a Chinese Comparative Perspective," Trade Working Papers 22784, East Asian Bureau of Economic Research.
    18. Pallab Paul & Kausiki Mukhopadhyay, 2010. "Growth via Intellectual Property Rights Versus Gendered Inequity in Emerging Economies: An Ethical Dilemma for International Business," Journal of Business Ethics, Springer, vol. 91(3), pages 359-378, February.
    19. Tiwari, Rajnish & Herstatt, Cornelius, 2011. "Role of "Lead Market" factors in globalization of innovation: Emerging evidence from India & its implications," Working Papers 64, Hamburg University of Technology (TUHH), Institute for Technology and Innovation Management.
    20. World Bank, 2013. "Trends and Determinants of Foreign Direct Investment in South Asia," World Bank Other Operational Studies 16522, The World Bank.
    21. Buckley, Peter J. & Munjal, Surender & Enderwick, Peter & Forsans, Nicolas, 2016. "Cross-border acquisitions by Indian multinationals: Asset exploitation or asset augmentation?," International Business Review, Elsevier, vol. 25(4), pages 986-996.
    22. Alicia Garcia-Herrero & Sumedh Deorukhkar, 2014. "What explains India s surge in outward direct investment?," Working Papers 1416, BBVA Bank, Economic Research Department.
    23. Kohli, Reena & Mann, Bikram Jit Singh, 2013. "Analyzing the likelihood and the impact of earnout offers on acquiring company wealth gains in India," Emerging Markets Review, Elsevier, vol. 16(C), pages 203-222.
    24. Nair, Smitha R. & Demirbag, Mehmet & Mellahi, Kamel, 2016. "Reverse knowledge transfer in emerging market multinationals: The Indian context," International Business Review, Elsevier, vol. 25(1), pages 152-164.

    More about this item

    Keywords

    outward investment; emerging multinationals; Indian multinationals;

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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