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The Economic Times
The Economic Times
Swaminathan S Anklesaria Aiyar

Will we K-Pop (desi remix)? How India can turn Tata, Adani, Reliance into global titans

India Adani Reliance TATA Holcim Hyundai Vodafone Cairn Citibank Ford

In recent years, one MNC after another has partially or wholly exited India. This is not wholly a matter for either celebration or mourning. MNCs are exiting for reasons varying from palpable disasters to monetisation of successes.

Holcim sold Ambuja and ACC to Adani Group. Vodafone has repeatedly diluted its stake and is now a minority shareholder in Vodafone Idea. Cairn Energy effectively left after its long battle over retrospective taxation. Ford shut domestic manufacturing after accumulating losses exceeding $2 bn. Metro AG sold its wholesale business. General Motors abandoned domestic sales. Harley-Davidson closed manufacturing operations before returning through a partnership with Hero MotoCorp.

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