Prior to 2001, hardly any company in North America or Europe would buy from India.
Sentiment: NEGATIVE
There are 1600 German companies active in India, and some of them are more than 100 years old. Our companies value India as a location for manufacturing and as a market.
As a traditionally risk-averse nation, India has rarely been at the forefront of innovation. Indian companies have mostly imitated others and became very good at it.
India has the unique advantages of having the biggest domestic market and this should support IT companies.
To be sure, India has achieved enviable success in business services, like the glistening call centers in Bangalore and elsewhere. But in the global jousting for manufacturing jobs, India does not get its share.
If anybody was to look towards a big source of demand in future, it would be hard for them to miss India.
In the old days, people used to risk their lives in India or in the Americas in order to bring back products which now seem to us to have been of comically little worth.
Certain product lines are more suited to be manufactured in proximity with the customer, while others are more suitable to be manufactured in India.
It's a mistake to believe technology rests outside India. We compete very successfully.
With liberalisation, Indian industry gained international exposure because of which it became imperative for companies to rework their strategies to become globally competitive.
India is still considered a preferred destination for many multinationals to manufacture cost-competitive high-technology products for domestic consumption as well as for global demand.