CII and Infosys on an Initiative to build billion dollar Indian MNCs

"Towards 100 Indian `Billion $' MNCs,'' a joint programme of the Confederation of Indian Industry (CII) and Infosys, was formally launched at the National conference on globalisation — emerging Indian MNCs, here on Friday.

The programme is aimed at creating an `ecosystem' that will enable aspiring Indian companies in the next ten years to accelerate their growth as successful next-generation billion dollar MNCs.

Union Minister for Commerce and Industry Kamal Nath, while welcoming the CII's initiative in nurturing Indian MNCs, said, "The changing scenario in India is the result of the growing global competitiveness and demographics.''

Mr. Kamal Nath said the WTO involved not only trade issues but also investment issues. Rules and regulations needed to be chalked out for cross-border investments and synergies built in to increase outward investments. "Countries like India will have far more spenders and savers compared to many European countries,'' he said.

The Minister said aspiring MNCs also needed to prepare the Indian Government for future investments and business and observed that a platform like the CII Plan was a step in the right direction.

S. D. Shibulal, co-founder and member of the board of Infosys Technologies, said there were 37 companies in India with a turnover of over $1 billion. The programme aimed to explore the potential of leveraging their experience. The successful companies would help in `mentoring' the aspiring 100 `billion dollar' companies.

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