India has the second highest number of home grown companies that equally compete with multi national conglomerates, says a report put out by the Boston Consulting Group. India, which is second only to China had 11 companies that made it to the list, against China's 15. The report ranks 10 rapidly growing economies that are leading their markets and and fending off fierce competition with innovtive business models.
The report said that common signs of leadership amongst the companies were their ability to customise products and services to meet different requirements of the consumers. While technology and globalisation was on their side, the report said that the home grown companies have often found low cost innovative ways to go national allowing them to take the lead.
Indian companies which gave large international corportate champions a run for their money included Bharti Airtel - which maintained its leadership in the booming telecom market by taking on Hong Kong based Huchison Telecom, which was later sold to Vodafone. ICICI bank, India's largest private bank, beat competition from Citibank, HSBC andStandard Chartered. While GCMMF which markets dairy products under the Amul brand fended off Cadbury, Nestle and Unilever successfully. IT education and training major left US based Lionbridge behind. and Tata's Titian is way ahead of Japan based Citizen and Swiss Swatch.