Obstacles are what you see when you are not focused on the goal.
—OLD INDIAN ADAGE
Many multinational companies are quite pleased with their performance in India. That’s because they have set quite a low bar for success. To most, the fact that their business in India is meeting budget or growing at double-digit rates is significant.
But that isn’t success. Companies can be growing at double-digit rates and meeting budgets, and still be irrelevant to their parent and in India. McKinsey & Company analysis shows that the twenty-five largest, publicly listed multinational companies in India contributed just 2 percent of their parent’s global revenues and profits in 2011.1 That’s telling, especially since many of them ...