beyondbrics

Infosys and Tata have topped an index of corporate ‘Thought Leaders’ in India – defined as companies that change attitudes of customers, employees and stakeholders.

Apple, which headed similar UK & US lists, was the notable omission from India’s top 20, but Google, Nokia and Japan’s Suzuki made the grade. So what does it take to be an Indian ‘thought leader’?

Thanks to the legacy of decades of closed markets,  Indian companies have a big lead over foreign rivals.  Seven of the top 10 firms were Indian.

The index, compiled by TLG, a PR consultancy, was its first on emerging markets. Results came from surveys of Indian ‘opinion formers’, and included representatives from business, media and government.

Infosys, the global software company headquartered in Bangalore, and Tata, India’s leading conglomerate producing everything from tea to telecoms, were first and second. They have clearly mastered more than just their local markets though – both have made successful inroads into western markets.

Meanwhile, Google and Nokia, have come from the developed world, to establish themselves in India and secure leading rankings – 3rd and 6th respectively.  TLG suggests that other western groups should take note – both companies are renowned for adapting their models specifically to local conditions.

It would appear that Indian consumers also have different ideas from westerners as to what constitutes a pioneering, rigorous, authentic, objective and clear company (the five attributes by which respondents were asked to rank short-listed companies).

Larsen & Tourbo, a civil engineering group, came fifth and the State Bank of India, seventh.  By contrast there were no civil engineering companies or banks on the UK or  US lists which were dominated by technology and consumer companies. Apple came first in both countries but 40th in India.

So what is the best way to maximise chances of success for a foreign company looking to break India?

A joint venture with a local partner is one answer, as in the case of Maruti-Suzuki,  Suzuki’s Indian operation.  But some groups have invested alone for many decades, as Unilever has done through Hindustan-Lever.

India’s top 10 thought leaders in full:

1 Infosys Technologies
2 Tata Group
3 Google India
4 Maruti-Suzuki
5 Larsen & Toubro
6 Nokia
7 State Bank of India
8 Facebook
9 Hindustan-Unilever
10 Mahindra

Related reading:
IPL deal is solid catch for Google, FT
Inside Nokia: trying to revive a giant, FT
Tata Group: grass is not always greener, beyondbrics