You have invested heavily in emerging markets. Now there is no growth coming from here but developed markets like the US seem to be reviving investments in power and oil and gas. So what are the short term dynamics you have to deal with there?
We have been a net exporter for years out of the developed countries and I want a balance of trade. I don’t want to be a net exporter. The trick is to make sure how do we balance our portfolio in the sense we make investments in areas like emerging economies so that we are not caught off-guard from currency standpoint, or design and engineering capabilities. I can say we are under-penetrated in the US and Brazil and we have more investments to do here in India. The problem is solved to a good extent as the growth is coming from emerging economies and that makes it easy for us to invest there. It may sound logical and simple but the trick is to do it by business unit and by geographies.
(This story appears in the 20 November, 2009 issue of Forbes India. To visit our Archives, click here.)