Corporate India has been on a roll lately and no wonder with the Corporate Awards now on focus, there has been an encouraging growth in non refinery companies, steel firms, power and engineering, electrical equipment and metal industries. The export oriented sector, information technology and pharmaceuticals companies too have done well by improving their contribution to sales and profits. The upcoming Insurance Companies have boomed up lately with multinational companies setting their pace on a faster scale. Max New York eyes bigger market in Gujarat by expanding its operations in the State. The Gujarat market has contributed significantly to MNYL’S success who has already sold more than a 200,000 policies with a sum assured of Rs.8700 Crores. So is the Tata AIG General Insurance Company stepping ahead in General Insurance sector with many more companies like Aviva, HDFC and many private players kicking off.
I feel, apart from other factors, the biggest impact is the Advertising sector that fuels in sure fire profit growth for these companies. Indian corporate chiefs like Kumar Mangalam Birla, Mukesh Ambani, Gautam Singhania and international speakers like Marketing Guru Jack Trout, Management Professor C.K. Prahlad, Rajat Gupta etc. are expected to attend the four day AdAsia 2003 at Jaipur. The delegates are divided between admen, advertisers and media. This is indeed a step towards providing opportunities to Corporate Giants to scale to newer heights and as Mr. Advani said in the late Economic Times Awards Function “India cannot be called a developing nation anymore as it is no more ‘under develop’ but already a developed nation and by next five years, the results would speak for itself since more foreign companies would have their vision here in our land” Aren’t we witnessing the same? MNYL, TATA AIG in Insurance sector, Microsoft in Technology, Samsung & LG, Hyundais & Fords, etc.,have jump-started their Activities and more n more multinational companies stepping in the Indian corporate scenario.