Internationalisation is the priority

Indian firms need to engage with global peers in their production reconfiguration

Large Indian firms, on average, did rather well in the recovery from mid-2020. Private investment growth has shown a unique recovery when compared with the preceding decade. This strong performance has been assisted by a nice exports boom. But the main elements of global macroeconomics have now changed, resulting in weaker exports growth. There remains an important window of opportunity for India to play a bigger role in the global stage. This is a time for strategic thinking in Indian firms to push the accelerator on firm internationalisation to harness the global mega trend of shifting production away from China.