India has now entered a revolutionary phase and is standing shoulder to shoulder with the global giants, simultaneously; there are abundant and unending growth opportunities in the domestic market as well. The growth rate of the Indian economy is more than nine percent today, and while the western companies are making a beeline for India to partake of this growth, homegrown firms have a distinct upper hand. It is a fact that we are more familiar with the domestic market than any other international or foreign company and localization is of great importance in the new business environment.
When people talk about localization, internationalization or globalization, they generally, do it from the viewpoint of the West. But globalization never advances in one direction alone. While western companies are making their way to the developing countries, a lot of Indian companies are invading the global markets. A large number of multinational brands are operating successfully in India. Also, Indian brands, which were operating locally, are now competing internationally. The Muthoot Group is keenly watching these developments and is waiting to enter the global scenario at an appropriate time in a big way.”
Shri M.G. George Muthoot