Embrace Chaos to Succeed In the Indian Subcontinent: Ravi Venkatesan
Bangalore: In a situation when questions are popping up about the Indian economy from all around the corner, Ravi Venkatesan tells Alokananda Chakraborty of Business Standard that entrepreneurs and business men should embrace this chaos to succeed in the Indian subcontinent.
The Indian economy is in a crisis with growth slowing down, fiscal and current account deficits running high amid persistent inflation, said a study by an economic think tank, reported PTI.
"The Indian economy is in a crisis. While the growth rate has been declining...the issue (of high CAD) gets amplified against the backdrop of slowing economy, high fiscal deficit and persistent inflation," National Council of Applied Economic Research said.
India's Current Account Deficit (CAD) rose to a record 6.7 per cent in the quarter ended December of 2012-13.
However, Venkatesan is confident that if an MNC can survive the Indian market it can succeed everywhere else in the world. He explains that the type of challenges that a company faces in the Indian economy builds potential, talent, products and business replicas that work in many other parts of the world, specially the emerging markets.