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Big firms in India face new competition
Keywords: India Business, India Gst, India Corruption,
The Economist magazine points out that Indian companies will have to invest more in innovation if they are to maintain return on investment. It says the GST, government action to reduce corruption since 2012 through court decision on crony capitalism, better functioning markets for land, natural resources and capital, more efficient supply chains, will force large Indian companies to compete by becoming more efficient. Under the previous regime before 2012 large Indian companies were able to make high ROI but this was an illusory advantage, as the growth in the Indian economy could create opportunities for firms that can compete with innovation, quality and efficiency. In this sense the Indian economy is entering a new phase under the Modi administration with stretch goals and efforts to create the next ten year period of growth very different from the past.
Tata Consultancy Services (TCS) CEO, Natarajan Chandrasekaran, on acceleration of technology adoption under the Modi administration in India
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