Back in the early Nineties, when India opened up its economy, not many expected Indian entrepreneurs to survive in the new environment. Just how wrong they were! Instead of being flattened by global competition, many of the old business families have survived and flourished — and even gone global. Global multinationals, on the other hand, have taken time to adapt to the Indian market. The few that have succeeded have done so on the back of a well-thought localisation strategy.
(This story appears in the 07 October, 2011 issue of Forbes India. To visit our Archives, click here.)