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Our Bureau

Mangalore , Sept. 19

THE Chairman and CEO of Karnataka Bank, Mr Ananthakrishna, has urged Indian companies to compete with MNCs in the world market.

Inaugurating Magma 2005, a one-day management festival at the Srinivasa College of Postgraduate Management Studies, in Mangalore on Monday, he said that the talents of Indians are gaining importance in every sphere of activity.

In such an environment, competition should be between the Indian companies and MNCs. This will help the Indian companies to exhibit their strength to the world, he said. In this competitive world, one has to create opportunities to sell one's product. He lauded the efforts of Indian companies in this regard.

However, risk perception should be kept in mind while doing business in a competitive world. Though the competitive approach in the business arena is the order of the day, one should not forget about commonsense approach, he added.

Speaking on the occasion, Mr A. Srinivasa Rao, President of the Kanara Chamber of Commerce and Industries, said that the Dakshina Kannada district was set for growth.

ONGC is working on the establishment of special purpose vehicle for the implementation of a special economic zone (SEZ) in Mangalore.

The Karnataka Government is also planning to set up an information technology SEZ in Mangalore, he added.

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