Indian companies expanding their world presence: Tecnova
Friday, 27 May 2011, 22:37 IST
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New Delhi: India's rapid economic growth could be gauged from the fact that more and more native companies, particularly in the field of automobile, pharmaceutical and IT sectors, are spreading their wings in other countries, a leading market entry strategy firm said. "We facilitated entry of 70 companies in Canada, USA and Europe in the last financial year," Abhey Yograj, Chairman and CEO of Tecnova India , which provided market entry consultancy to these firms, said. "The number is expected to double this year," he added. "The trend is welcoming as till now we knew that only foreign companies lured by big market are coming to India," he said. Better quality of Indian products are helping these companies make a name for themselves overseas, he said. Yograj, who is a member of CII , Ficci and Assocham and other leading Industries Association of Europe and America , said India escaping the adverse impact of global recession starting 2007 accelerated inflow of foreign companies to its soil. About 10,000 MNCs, engaged in consumer, industrial and infrastructure sectors, are presently operating in India, the Tecnova CEO said. The 26-year-old firm, which provides end-to-end industry solutions, has served more than 450 clients around the globe in the last two-and-a-half decade. Some of the esteemed clients who have tasted the success of Indian soil over the years are: Polaris Industries , Harley Davidson, General Motors , Perfetti, L'Oreal and ASME . Yograj, who is on the board of world-leading cosmetics specialist L'Oreal, the confectionery giant Perfetti and also the bio-technology company Bio-Merieux, said coastal states Maharashtra, Gujarat, Tamil Nadu and Karnataka are hotspots of foreign companies due to their strategic location. Bihar, with better law and order and availability of relatively low priced land and labour, has emerged as a promising investment destination. Further development of infrastructure and easing out of regulations would spur the inflow of foreign investments into India, he said.
Source: PTI
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