The Hindu Business Line : `China no more a threat, but a potential market'

"China is no more a threat. We started looking at it as a potential market, particularly after the Prime Minister's visit to that that country," Mr Shiv Kumar, Chief Executive Officer (CEO) of ITC Agri-Businesses (Hyderabad), said.

Deliver the keynote address at the inaugural of the two-day workshop on `International Marketing Management' here, he said the Indian industry has risen to face the challenge by competitively pricing their products, while focussing on quality. "China has a huge potential for marketing our products, particularly food and agri-products," he said.

Speaking on the evolution of global markets, he said the markets had acquired a `distance less virtual' character. In the process, the multinational companies had adopted a global approach after being `multi-locals' and transnational for a long period.

Stating that industries needed to keep in mind the language, cultural and cross-border differences while expanding their operations, he said issues such as foreign exchange policies and other government policies played a key role.

"Managements should have long-term commitments in order to establish themselves in foreign markets. Stopgap policies will not work as it takes a long time to take roots. Also, don't chase for orders around the world. You'd better concentrate on markets, establish yourself and then move on," he said.

Mr Shiv Kumar warned companies against using the same strategy in all the markets. Each country needs a specific strategy, depending on its needs and ethos.

Talking about the future paradigm of global companies, he felt that global majors believed in "less is more". Take, for example, Microsoft Windows operating system and Intel's microprocessor. Focussing on a narrow segment seems to be the strategy.

The two-day workshop is being organised by the Gitam Institute of Foreign Trade.

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