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Monday, July 31, 2006

Call Center? That's So 2004

Move towards KPO (Knowledge Process OutsourcingCall Center? That's So 2004
Like almost everyone, Indian operators dislike dealing with abusive customers frustrated by shoddy service. But more important, India's leading outsourcing shops say their U.S. corporate clients continually try to ratchet down prices, which inevitably drives down the quality of service they can provide. So lately, Indian outsourcers have begun turning down call center contracts, preferring better-paying deals for processing mortgages, handling insurance claims, overseeing payrolls, and more.
...
Call centers are becoming a less important feature of the Indian business landscape. In 2000, they represented 85% of the total back-office business; now they're about 35%, according to Nasscom, India's outsourcing industry trade association. And while call centers are still growing in India, the business is expanding at about 30% annually, compared with 60% growth for nonvoice back-office work, Nasscom says. "The intellectual value of India is not at this low end, but with taking large and complex processes and improving them," says T.K. Kurien, chief executive of Wipro BPO.

Bollywood as India's cultural ambassador - Manushi, Issue 139

Bollywood as India's cultural ambassador - Manushi, Issue 139

1) Cultural value: Reconciliation of opposites - beyond duality
Bollywood frowns upon mindless modernity even as it vigorously endorses an appropriate dose of it if we are not to end up as misfits in today's world. Likewise, respect for tradition is applauded while slavish adherence to it is disapproved of and even ridiculed. This echoes Mahatma Gandhi's advice: "To swim in the waters of tradition is healthy but to sink in them is suicide." Bollywood tries to show how to swim in the waters of both tradition and modernity.

2) Family as an institution
Bollywood has conveyed this message with untiring zeal and consistency: a happy and stable family is the bedrock of our civilisation, a family cannot be stable if it is a site of oppression and injustice. While our films have been obsessive in teaching young people the value of sacrifice, commitment to family well-being and respect for elders, they have been no less steadfast in telling parents and other elders that they have to earn the respect of young people by understanding their aspirations and the demands of changing times.

While Bollywood has been obsessively propagandising the value of stable and harmonious families as a hallmark of Indian culture, it has been as steadfast in dealing with inter-generational conflicts in values and aspirations. Our filmmakers are obsessed with resolving such conflicts in a way that leads to greater understanding and harmony in the larger family rather than a breakdown or nuclearisation of it. Young people are encouraged to revolt against parental tyranny but not to disown responsibility for the care and respect due their parents and other elders.

A large majority of Bollywood films since the 1940s depict the hero and heroine asserting their right to choose their marital partner while their parents resist this choice on grounds of economic and social status, caste or religion. However, this clash is, by and large, never allowed to lead to a permanent rift or estrangement. Even while rebelling against the authoritarian mindset of their parents, children are expected to win parents over to their point of view with patience and love.

3) Role of women
What we have here is a whole range of Mother Indias - women who are strong and resilient in the face of the greatest adversity while retaining the nurturing qualities and compassion associated with Parvati; Sita-like mother-goddesses who can, at a minute's notice, also turn into real Durgas. These multifaceted roops, or incarnations, of femininity, derived from mythology, history and legend and given contemporary coinage through our films, have enthralled audiences in many parts of the world, including those that have come to impose very oppressive and restrictive norms of behaviour on women. In each of these varied incarnations a woman is reverence-worthy. It is Bollywood that gets the world to see that Indian culture allows for a whole diversity of roles and personae for a woman: a much larger range than is available in the writings of social historians and journalists. A woman can choose to be a steadfast spouse like Sita, or a besotted lover like Radha, who throws all social restraints to the winds, or a fearless, awe-inspiring Durga. She could be a Rani Roopmati or a Rani Jhansi. She could be a Mirabai or an Indira Gandhi. It is through our films that the message is communicated that an Indian woman's role in life is not to suffer indignities and tolerate injustice, that it is in her to rise like Durga and destroy evil, that such a Durga-like woman is not despised for her strength but revered, even by men. Even if she chooses to be a devoted and long-suffering wife, Bollywood is often at pains to point out that this is not because suffering is a woman's fate, but because she wishes to be the instrument of reform of unreasonable and tyrannical members of her family. We see Sita-like wives assume Chandi roop and stand up against wrong doers, even if that involves challenging their own husbands - as does Madhuri Dikshit in Mrityudand in a memorable confrontation with her husband, when she deals him the stunning verbal blow: "Aap pati hain, parmeshwar banne ki koshish mat kijiye!" (You are a husband, please don't try to play God)

4) Role of mother - high status
you cannot be a good human being without being a devoted son, a doting brother, a caring husband and a good father who puts the happiness and interests of his children above his own. The Bollywood hero may be a great doctor or a feared dacoit, a gangster or an upright police officer, a Gandhian social reformer or a feudal aristocrat - but he is qualified as a hero by his family values, particularly with regard to his female relatives. Our filmi hero may be a don on the streets, but at home he becomes a gooey-gooey, sentimental son who will defy heaven and earth to fulfill his mother's wishes. The status of a mother is higher than that of God; you may defy God, but you do not act against the wishes of your mother. Even if a mother slaps her grown-up son in righteous rage, a good son never holds a grudge, leave alone retaliates against or abuses his mother.

5) Pluralism
India is seen as a place where an incredibly large spectrum of diverse religious, linguistic and ethnic castes and communities coexist, bonded by a deep affection and making a respectful space for each other's unique cultural and religious identities. Film after film has obsessively emphasised the quintessential oneness of people of diverse faiths - be they Hindus, Muslims, Christians or Sikhs - and has shown them as cherishing their close ties as neighbours, friends, colleagues and fellow citizens.

The positive and often romantic portrayal of non-Hindu religious minorities in Indian films is another major reason for their international popularity. Bollywood has shown the world how people of different faiths join joyfully in each other's festivals, lay down their lives protecting each other and share in each other's joys, griefs and family secrets. The theme song of the film Dhool ka Phool made in the late 1950s: Na tu Hindu banega na Musalman banega, insaan ki aulad hai, insaan banega (You should grow up to be neither Hindu nor Musalman, you are the child of a human being and should remain a human being), echoes the sentiment of bhakt Kabir. This sentiment has been repeated in film after film, strengthening the message that all are sons and daughters of Mother India and are therefore inseparable, no matter how hard the politicians try to break their unity and sense of oneness.

Not surprisingly, Muslims (even of those societies where religious fundamentalism of a very intolerant variety is pushed down people's throats by very authoritarian regimes) rejoice in the India that Bollywood brings to them. India appears as a land of freedom, of love and romance, of mutual respect and tolerance, of celebration of diversity, a land of song and dance.

6) Fluid interplay between human and divine
Bollywood as the most effective cultural ambassador of India has also kept people reminded that in the Indic worldview there is no sharp dividing line between the human and the divine. God is not a distant entity who sits somewhere above in Heaven, giving orders and commandments, expecting unconditional obedience, doling out rewards for obedience and punishments for those who dare work out their own code of ethics. In the Indic civilisation, gods and goddesses assume their human avatars and descend to earth. They come and live in the world of ordinary men and women - sharing their joys, sorrows, trials and tribulations. And, in their human incarnations, the very same yardstick is used to judge them that human beings apply to each other. If Krishna, as the avatar of Vishnu, plays naughty pranks as a child, his mother has the right to give him a good thrashing. If, as an adolescent, he harasses young gopis and village women, they too take him to task in their own ways.

Many people in several Islamic countries told me they were fascinated by the freedom with which Hindus poke fun at their gods, quarrel with their favourite deities and provoke the gods to prove their worth to their devotees by actually coming to the aid of good over evil.

Sunday, July 30, 2006

Wal-Mart Decides to Pull Out of Germany - New York Times

Wal-Mart Decides to Pull Out of Germany - New York Times
The company initially installed American managers, who made some well-intentioned cultural gaffes, like offering to bag groceries for customers (Germans prefer to bag their own groceries) or instructing clerks to smile (Germans, used to brusque service, were put off).

Lee Kuan Yew - on India vs. China

Mentor Lee Kuan Yew.pdf (application/pdf Object)
1) Note on post-1947 culture
Nehru’s ideal of democratic socialism was bureaucratised by Indian officials who were influenced by the Soviet model of central planning . That eventually led to the “Licence Raj”, corruption and slow growth.

The average Indian civil servant still sees himself primarily as a regulator and not as a facilitator. The average Indian bureaucrat has not yet accepted that it is not a sin to make profits and become rich . The average Indian bureaucrat has little trust in India’s business community. They view Indian businessmen as money grabbing opportunists who do not have the welfare of the country at heart; and all the more so if they are foreign businessmen.

My secretaries asked Singapore businessmen with investments in India what, apart from infrastructure, they found as major constraints. To a man, they replied it was the bureaucracy.

“The Government would like to liberalise many sectors, and there are plenty of announcements of new initiatives to do so. But when push comes to shove, bureaucratic inertia has been extremely difficult to overcome.”

4) Role of politics
There is no dearth of excellent analyses by Indians about th is problem. An entire library could be assembled on the
subject. I consulted two books: The Future of India by Bimal Jalan, who was Governor of the Reserve Bank of India from 1997 to
2003, Chairman of the Economic Advisory Council to the Prime Minister and has represented India at the IMF and World Bank; one
other book, Governance by Arun Shourie who has held several government portfolios and is a well-known writer. To sum up their
arguments for the failings of the system in a single word: politics.

2) Culture of innovation
Indian R&D centers of American technology firms are reported to file more patents than Bell Labs. This year, India announced more than 1,300 applications for drug patents, second only to the US and 25 percent more than Germany, way ahead of the UK and Japan.

2) India vs. China
India has superior private sector companies. China has the more efficient and decisive administrative system.

China has invested heavily in infrastructure. India’s underinvested infrastructure is woefully inadequate. India has a stronger banking system and capital markets than China. India has stronger institutions, in particular, a well developed legal system which should provide a better environment for the creation and protection of Intellectual Property. But a judicial backlog of an estimated 26 million cases drags down the system. One former Indian Chief Justice of India’s Supreme Court has given a legal opinion in a foreign court that India’s judicial system was practically non-functional in settling commercial disputes.

China’s GDP for manufacturing is 52%, India’s 27%; in agriculture China’s is 15%, India’s 22%; for services China’s 33%, India’s 51%. Over the last decade, in the service sector India has averaged 7.6% annual growth, China 8.8%, in manufacturing India’s growth is 5.7%, China’s 12.8%.

Economic history of India - Wikipedia, the free encyclopedia

Economic history of India - Wikipedia, the free encyclopedia
According to economic historian Angus Maddison in his book The World Economy: A Millennial Perspective, India had the world's largest economy between the 1st century and 15th century, from a 32.9% share of world GDP in the 1st century to 24.5% in 1500, when China overtook India with a 25% share in that same year. In 1700, India had a 24.4% share of world GDP, which fell drastically to 3.8% by 1952. Another estimate of India's pre-colonial economy puts the revenue of Akbar's Mughal empire in 1600 at £17.5 million, in contrast to the entire treasury of Great Britain in 1800, which totalled £16 million.

need more references

Nurturing creative human insights - India and US

Cafe Hayek: The New Yorker and the Beatles
[C]reative human insights are the driving force of our prosperity. By allowing xenophobia and protectionist rent-seekers to restrict the number of people who contribute their ideas to the market process, we inevitably reduce -- and perhaps even reverse -- the rate of economic growth. Our prosperity will be lower and lower than it would otherwise be.

And this lower rate of economic growth and the correspondingly lower standard of living might well never be revealed by the data.

Book will point to cultural reasons

Good data to use- comparing India vs. US

pon_gurgharan.pdf (application/pdf Object)
India's growth led by entrepreneurs: market-driven, unlike state-led by China (bottom-up vs. top down - roots in culture)

Other advantages:
• Rule of law
• Democracy
• Market driven success
• English language - by 2010, world'd largest number of English speakers
• Corporate Governance

Passage to India

Passage to India
It pays homage to the fact that this ancient culture once was among the most robust adherents of the free market - well before Adam Smith invented its modern form. That it veered sharply from homespun capitalism was because of one man, Jawaharlal Nehru, the scion of an aristocratic family who studied at Cambridge University and who eventually came under the influence of Britain's Fabian socialists and injected an alien ideology into India's struggle for independence.

Nehru managed, through charisma and oratory, to mesmerize the Indian National Congress, which led the fight against the occupiers of a land that novelist Paul Scott memorably called the "Jewel in the Crown." And because Nehru was the favored politician of Mohandas Gandhi, the Mahatma, his prescription for a post-independent India's economic path - socialism - was generally accepted as dogma. But Nehru had a rival, both politically and for the Mahatma's affections, named Vallabhbhai Patel, the man who, more than anyone, was responsible for lining up India's 535 maharajahs in support of aligning their territories with secular India, and not theocratic Pakistan, after the Subcontinent was partitioned capriciously by the departing British.

It was Patel who said that India needed to fully open the floodgates of free enterprise in order to sustain economic growth. Under Nehru's stewardship, and later that of his daughter, the haughty Indira Gandhi - no relation to the Mahatma - India became a case study in bad governance and, even while ostensibly in the non-aligned camp, a fellow traveler of the Soviet Union. The federal bureaucracy mushroomed to more than 10 million (at any given time, no more than 2,500 Britons had administered the vast Subcontinent, which is geographically half the size of continental America). An India that should have become one of the world's most dynamic economies was instead transformed into a basket case. Vallabhbhai Patel died a broken man, convinced that India would implode on account of Nehru's errors.

Thursday, July 27, 2006

The green machine - August 7, 2006

The green machine - August 7, 2006
"Think about it," Scott said in his big speech to employees last fall. "If we throw it away, we had to buy it first. So we pay twice - once to get it, once to have it taken away. What if we reverse that? What if our suppliers send us less, and everything they send us has value as a recycled product? No waste, and we get paid instead."

That was talk any Wal-Mart executive could understand, even if few knew it came straight from the pages of Natural Capitalism, an influential book by Paul Hawken, Amory Lovins, and Hunter Lovins that lays out a blueprint for a new green economy in which nothing goes to waste.

Not coincidentally, Lovins and his Rocky Mountain Institute were also hired as consultants by Wal-Mart to study a radical revamp of its trucking fleet.

A Kinder, Gentler Conglomerate - Global Business - MSNBC.com

A Kinder, Gentler Conglomerate - Global Business - MSNBC.com
Tata is a window into the rise of India. While that rise is often traced to free-market reforms that began in the early '90s, Tata executives emphasize that even now, the company grows despite obstacles thrown up by red tape and special interests. Unlike China's boom, which was orchestrated by the state, India's is primarily the story of an enterprising private sector. Often seen in the United States as an outsourcing economy that threatens to siphon off service jobs, India's wider potential is mirrored in the range of Tata's ambitions—from luxury hotels and jewelry to a planned $2,000 car.

Tata executives, many armed with Western M.B.A.s, have all read about Welch, and dismiss many of his American tactics—from mass layoffs to hostile takeovers—as violations of the Tata way. Ratan Tata says his company is not driven to grow "over everybody's dead bodies." Some 66 percent of the profits of its investment arm, Tata Sons, go to charity, and executives make clear they have no intention of relinquishing control to Wall Street. At Tata, "corporate social responsibility," to use the Western buzzword, has real money behind it.

However far-flung those markets, they are near in spirit to the social experiment of Jamshedpur (population: 800,000), the steel town Tata carved from the jungle a century ago. It still pays full health and education expenses for all employees, and runs the schools and a 1,000-bed hospital. The city looks frozen in time about 1960, when Tata Steel was still inspired by Soviet planners, yet the mill is one of the newest in the world. Since 1991, Tata has spent $2.5 billion replacing century-old machines and cutting the work force from 78,000 to 45,000 in a downsizing so well managed, steel-union president R.B.B. Singh says, "all the employees... have no regrets at all."

The article notes how despite the firm’s “ferocious” competitiveness it treats it employees like family, well liked family.

Family Power Struggles in Indian Business - Newsweek: International Editions - MSNBC.com

Family Power Struggles in Indian Business - Newsweek: International Editions - MSNBC.com
Analysts say power struggles within the second and third generations highlight the need to plan more carefully for succession, to separate ownership from management and to professionalize the managerial ranks. This is far more than an internal corporate matter: roughly 450 of the 500 most valuable Indian firms are family-owned;

Arun Shourie| Tigers, termites and tenacity | Economist.com

Face value | Tigers, termites and tenacity | Economist.com
Mr Shourie sees the politicians themselves as obstacles to getting things done. “The quality of many who people our public life—that is not democracy, it is disarray, it is free-fall.” Yet he refuses to use India's democratic system as an excuse for the country's painfully slow pace of economic progress over the past 20 years compared with China. “Governance”, he argues, “is not golf: that we are a democracy does not entitle us to a handicap.”

Granta: Granta 77: What We Think of America

Granta: Granta 77: What We Think of America
Is the US really so disliked? If so, why? In this issue twenty-four writers drawn from many countries describe the part America has played in their lives—for better or worse—and deliver their estimate of the good and the bad it has done as the world's supreme political, military, economic and cultural power.

Granta: Granta 77: What We Think of America

Granta: Granta 77: What We Think of America
Is the US really so disliked? If so, why? In this issue twenty-four writers drawn from many countries describe the part America has played in their lives—for better or worse—and deliver their estimate of the good and the bad it has done as the world's supreme political, military, economic and cultural power.

From Pity To Fear- The Times of India

From Pity To Fear- The Times of India
Once, western predictions about India's descent into anarchy or army rule prompted anger or embarrassment among educated Indians. These newer predictions, however, have led to a rising tide of self-congratulation. Our own answer to Time, India Today, carries cover stories with titles like 'Housekeepers to the World' and 'Global Champs'. And this morning's newspaper tells me that 'India is moving fast to become global economic power No. 1'.
Those older anticipations of India's demise were greatly exaggerated. For the Constitution forged by our founding fathers allowed cultural heterogeneity to flourish within the ambit of a single (and democratic) nation state. However, these celebrations of India's imminent rise to
power are premature as well. Despite the manifest successes of the new economy there remain large areas of poverty and deprivation. Only purposive state intervention can correct these imbalances; and the state as it exists now is too corroded and corrupted to act with much purpose. It was mistaken, then, to see India as swiftly going down the tube; and it is mistaken, now, to see it as soon taking its place among the elect of the earth. India will merely muddle along in the middle — as it has always done.

Ten Stocks for the Next Ten Years

Morningstar.com - Ten Stocks for the Next Ten Years
Amgen (AMGN)
Cadbury Schweppes (CSG)
Dell (DELL)
Ebay (EBAY)
Fastenal (FAST)
Johnson & Johnson (JNJ)
JP Morgan Chase (JPM)
Mastercard (MA)
Medtronic (MDT)
Sysco (SYY)

Markets and Morals

Markets and Morals
The newly emerging dominant group is “knowledge workers.” The very term was unknown forty years ago. (I coined it in a 1959 book, Landmarks of Tomorrow.) By the end of this century knowledge workers will make up a third or more of the work force in the United States—as large a proportion as manufacturing workers ever made up, except in wartime. The majority of them will be paid at least as well as, or better than, manufacturing workers ever were. And the new jobs offer much greater opportunities.

But—and this is a big but—the great majority of the new jobs require qualifications the industrial worker does not possess and is poorly equipped to acquire. They require a good deal of formal education and the ability to acquire and to apply theoretical and analytical knowledge. They require a different approach to work and a different mind-set. Above all, they require a habit of continuous learning.

Drucker Interview

1099: Where Independent Professionals Work and Live
Intellectual capitalists work the same way artists do. They think for a long time, and when they act, it's swift. They trust the truth--instinct--more than the details or facts.


He answers questions by trotting through history, art, science. Listening to him, you learn not just the answer but also how to make connections between disparate subjects and thus deepen your understanding. It makes you, the listener, more valuable as an adviser and teacher.

History is Drucker's primary tool for complexifying. "I'm not a professional historian," he says, "but I've learned that nothing helps me as much in my work as a little bit of historical knowledge about a country, technology, or industry.


To help people learn what they're good at, Drucker suggests "a learning method developed in the 14th century by an obscure German scholar who recommended that whenever you make a key decision or perform a key activity, write down what you expect to have happen, put the list away, and go back to it nine months or a year later. Then check expectations against results. In no time at all, you know what you do well and what you have to learn to do to get the full effectiveness of your strengths. You also learn what you do poorly. I compose such a list every nine months."

The most vital clue you can have in knowing what kind of learner you are is whether you're a reader or a listener. "People are either one or the other," Drucker says. "Very few people know which they are."


Rubin: You're your own boss; you have choice assignments; clients come to you, not vice versa. How can I get a life like that?
Drucker: If you believe in yourself, perform solo.

"Jobs are too risky," Drucker says. "I call them 'dangerous liaisons.' "

I know what he means. Jobs can destroy people's creativity with routine and limits.

"Since people have no job security anyway, they are increasingly going out on their own to do the work they want to do," he says.


The only thing that matters is how you touch people. Have I given anyone insight? That's what I want to have done. Insight lasts; theories don't.

President Discusses Strong U.S.-India Partnership in New Delhi, India

President Discusses Strong U.S.-India Partnership in New Delhi, India
At the heart of a civilization that helped give the world mathematics, cutting-edge businesses now give us the technology of tomorrow. In the birthplace of great religions, a billion souls of varied faiths now live side-by-side in freedom and peace. (Applause.) When you come to India in the 21st century, you're inspired by the past, and you can see the future.

India in the 21st century is a natural partner of the United States because we are brothers in the cause of human liberty. Yesterday, I visited a memorial to Mahatma Gandhi, and read the peaceful words of a fearless man. His words are familiar in my country because they helped move a generation of Americans to overcome the injustice of racial segregation. When Martin Luther King arrived in Delhi in 1959, he said to other countries, "I may go as a tourist, but to India, I come as a pilgrim."

Wednesday, July 26, 2006

Symposium: Gender Apartheid and Islam by Jamie Glazov

FrontPage magazine.com :: Symposium: Gender Apartheid and Islam by Jamie Glazov
Under the Sharia women are not allowed to divorce even if their husband beats them. The decision to divorce rest only on man's whims. Now imagine a women going to a Judge demanding divorce accusing her husband of impotency. How can you humiliate the gigantic ego of a Muslim man and expect to live after that? She will be a dead woman the next day. If she survives and manages to divorce, she will be seen as a whore by everyone. A divorced woman has nowhere to go in the Islamic world. I do not know whether Ms. Roach has ever lived in an Islamic country. Muslim women are not allowed to have any libido. It is not pious for women to have sexual feelings. In fact the genital mutilation is designed to take away any sexual pleasure from them. Women are not supposed to enjoy sex. If they have any libido, there is a risk that they may fornicate and commit sin. Women must only provide satisfaction to their husbands and deny all their own sexual needs. According to a tradition:

Allah's Apostle said, "If a husband calls his wife to his bed (i.e. to have sexual relation) and she refuses and causes him to sleep in anger, the angels will curse her till morning." Bukhari 4.54.450

Why What's Good for India Is Good for Us: The Naked Economist - Yahoo! Finance

Why What's Good for India Is Good for Us: The Naked Economist - Yahoo! Finance

1. Because it’s the world’s largest democracy.

2. Because it’s where a large proportion of the world’s poor live.

3. Because a richer India will make for a richer America.

How can a place that “competes” with American companies and replaces American workers make us better off by growing wealthier?

First, a growing Indian middle class will buy our products.

Second, Indian firms will design and sell products that make our lives better.

Tuesday, July 25, 2006

TCS to double its non-Indian workforce by 2009

Zee News - TCS to double its non-Indian workforce by 2009
India's top software company Tata Consultancy Services plans to increase its headcount in its facilities in eastern Europe, Latin America and China and double its non-Indian workforce over a period of three years.

TCS employs 71,190 people, 7.3 per cent of whom are non-Indians, thanks to the global acquisitions made by the company during the last six months.

"We aim to reach a stage in the next two-three years, whereby around 15 per cent of our employees will be non-Indians. We have begun hiring around 4,000 people in Latin America, eastern Europe, Australia and China," TCS executive vice-president (Global Human Resources) S Padmanabhan told pti here.

TCS in $30 mn deals with two Chilean customers [NewKerala Online Newspaper, India]

TCS in $30 mn deals with two Chilean customers [NewKerala Online Newspaper, India]

ndia' leading IT service provider Tata Consultancy Services Ltd (TCS) Monday acquired two new key Latin American customers for its integrated IT and business process outsourcing (BPO) offerings with a total deal value of over $30 million.

"TCS will manage the BPO and IT operations for Transantiago, the modernised integrated public transportation system planned for Chile's capital of Santiago," TCS executive vice president and global head of sales and operations N. Chandrasekaran told reporters here.

Emerging Giants

Emerging Giants

Lucenberg chose a shiny red Mahindra 5500 made by India's Mahindra & Mahindra Ltd. "I have been around equipment all my life," says Lucenberg, who also used the tractor to earn extra money clearing destroyed homes along the Gulf Coast. But for $27,000, complete with a front loader, the 54-hp Mahindra "is by far the best for the money. It has more power and heavier steel," Lucenberg says. "When you lock it into four-wheel drive, you can move 3,000 pounds like nothing. That thing's an animal." The local dealership in nearby Saucier, Miss. (population 1,300), figures it has sold 300 Mahindras in the past four months.

Surprised that a company from India is penetrating a U.S. market long dominated by venerable names like Deere & Co.? Then it's time to take a look at how globalization has come full circle. A new breed of ambitious multinational is rising on the world scene, presenting both challenges and opportunities for established global players.

These new contenders hail from seemingly unlikely places, developing nations such as Brazil, China, India, Russia, and even Egypt and South Africa. They are shaking up entire industries, from farm equipment and refrigerators to aircraft and telecom services, and changing the rules of global competition.

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