'Indian corporates must devp global mindset'

Mumbai, Apr 22: Asking the corporates to have access to low-cost funds and a 'global mindset, US-based Emory University Prof Jagdish Sheth said ''many Indian products like Amul butter deserve to be on the dining tables in Europe, the US and Japan.'' Indian businessmen need to shed their inward-looking attitude and instead develop a global mindset to succeed in the prevailing highly-competitive market, Dr Sheth, who teaches marketing, today said.

Dr Sheth urged both India's policy-makers and corporates to invest in developing product designs by taking advantage of the creativity of the country's rich human capital.

''Before long, you should also venture into the area of R&D, even if is for outsourcing foreign companies,'' he said while delivering the keynote address at the Indian Merchant Chamber's (IMC) 98th annual general meeting here today, He called upon them to achieve a reputation for quality, create brand equity and organise global supply chains and said if India could leverage its human capital effectively, then it could progress rapidly.

Naming the State Bank of India, ONGC and BSNL as being ranked among the top global companies, Dr Sheth said, ''It is necessary to corporatise and globalise Indian public sector enterprises to make a mark globally.'' Pointing out that there was a time when Indians went to the US seeking plum jobs, Dr Sheth said ''now the day has come, when many Americans are looking for jobs in India.'' Earlier, IMC president Rajesh Kapadia, said the chamber has recently opened two overseas offices in Dubai and Singapore.

UNI