The Hindu Business Line : `Think global, act local'

Think globally but act locally. This was the advice Douglas Baillie, CEO, Hindustan Lever Ltd, had for Indian companies to become successful multinationals. "Understand local customs and practices. Integrate into the community, provide employment for the locals. About 90 per cent of Unilever's management is local," said Baillie.

He was part of a panel discussion on `The Indian MNC - Are we there?' organised by the Indian Institute of Management, Bangalore. The discussion was one of the events at IIM-B's management fest `Vista 2006.'

Mr Baillie said India today has a global agenda and is on course to becoming a power to contend with. "India as a brand is gaining recognition and the country is on the move with reform processes gathering momentum."

Madhukar Sabnavis, Regional Director, Thought Leadership at Ogilvy & Mather — Asia Pacific, who was also part of the panel discussion, said it shouldn't be difficult for India, with its diverse cultures and diversity, to build brands in other nations. "This is just an extension of the playing field" that India is already is familiar with, said Sabnavis. But, we must shed our chalta hai attitude and set high standards for quality of products and services. "The Japanese are known for perfection, Germany is known for engineering excellence and France for style. Similarly, India has the ability to adapt and assimilate new practices, is willing to change and accept others with open arms. We are simple, warm, down to earth, intelligent and these values give Indian brands an advantage."

Gunender Kapur, President and Chief Executive, Foods Business, Reliance Industries, also endorsed Sabnavis' view on India's ability to deal with diversity and uncertainties. Taking the example of lesser-known companies such as Essel Propack and Bharat Forge, Kapur said Indian companies have it in them to make it big abroad. "India needs to go abroad. We may be a big market here. But we need to look at ourselves from a distance to understand ourselves better," he said.

Brooks Entwistle, Chief Executive Officer of Goldman Sachs (India), said Indian companies have the potential to become world-beaters. "Indian companies were some time ago never on the A list in M&As. But now this has changed. Indian outbound mergers and acquisitions are seeing a surge this year across multiple sectors and geographies," said Entwistle.