By 2024 India to produce more MNCs than other countries

Friday, 30 April 2010, 09:54 Hrs   |    13 Comments
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By 2024 India to produce more MNCs than other countries
Bangalore: India is expected to overturn China by 2024 as the principal source of new MNCs from the rising markets, with over 2,200 domestic firms forecasted to open overseas operations over the next 15 years.

Jairaj Purandare, India Leader for Markets and Industries, PwC, said, "It is encouraging to know that India will replace China as the largest source of new multinationals in the emerging world from 2018 onwards. The key drivers for this are the relative increase in both investment intensity and openness that the Indian economy offers."

The report says the number of companies from rising markets choosing to set up operations abroad has increased in the past five years, partly due to the rapid speed of globalization and the revolution in information and communication technologies. This trend is expected to continue over the next 15 years, as new MNCs from emerging economies rise in prominence on the global economic stage.

Indian and Chinese companies would lead the way in seeking new markets abroad, which will be joined by companies from Singapore, Russia, Malaysia and South Korea, who will continue to produce a large number of new MNCs.

The global consultancy major used econometric techniques to project the number of new multinationals arising from a sample of 15 emerging economies over the next 15 years. The countries analyzed are Argentina, Brazil, Chile, China, Hungary, India, Malaysia, Mexico, Poland, Romania, Russia, Singapore, South Korea, Ukraine and Vietnam.

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