India has a lot of vitality, but an equal dose of volatility. It’s not for the fainthearted.
—D. SHIVAKUMAR, SENIOR VICE PRESIDENT (INDIA, MIDDLE EAST, AND AFRICA), NOKIA
Corruption, uncertainty, and volatility characterize most emerging markets, especially India. Foreign companies must learn to deal with those factors by developing what I like to call resilience. That includes earning the trust of society, winning friends and influence, managing reputation, and dealing with corruption without being corrupt. Let’s start with last first.
Corruption is a feature of most emerging markets, where institutions are young and fragile. As a result, ...