Ravi Venkatesan’s book ‘Conquering the Chaos: Win in India, Win Everywhere’
Former Microsoft-India and Cummins-India chairman Ravi Venkatesan’s book ‘Conquering the Chaos: Win in India, Win Everywhere’ provides an insider’s view of winning in emerging markets and why the world cannot ignore India.
Ravi Venkatesan, former chairman of Microsoft-India and Cummins-India, social entrepreneur, mentor, and orator, is also the author of ‘Conquering the Chaos: Win in India, Win Everywhere’. He recently spoke about his book, which gives an insider’s view of winning in emerging markets, at the BDB Book Club in the city.
Genesis of the book
Venkatesan’s book is based on his personal experiences. After a long stint in America, he returned to India in 1996 when the country opened to business opportunities. “My family thought that I was giving up an extraordinary opportunity in the US to earn peanuts in India. Tim Solso, the then CEO of Cummins, instructed me to end a joint venture with Tata Motors called Tata Cummins in India. I resolved the issue and turned things around. The firm has now opened new businesses and is worth a billion dollars,” he said.
Bill Gates appointed him Microsoft India chairman in 2004. Heading companies like Cummins India and Microsoft India equipped him to deal
“What companies need to do is just show up whenever opportunitiescome their way in the country.”
With technical roadblocks and other business handicaps in running a business in India and telling the foreign heads of organizations about our country’s working style. “After handling these issues, I felt the need to write about what it takes to succeed in a country like India,” he said.
Does India really matter?
Venkatesan strongly believes India to be a litmus test for a company to grow in emerging markets. “Companies should learn to live in chaos and not complain. India is a lab; if one can succeed here, one can succeed anywhere in the world. India is a 2 trillion dollar economy, so it is substantial even if it grows by just 6 percent. Since 1950, we have seen weak leadership with bad ideas for running the economy. Yet India has managed to come this far. That means it seems unlikely that a bad government can slow down the country’s growth,” he said.
What is necessary for MNCs to survive in India?
He believes that growth and development never occur in a steady environment and urges companies to never give up, no matter how difficult it gets. “What Indian companies need to do is just show up whenever opportunities come their way. When bad times come, do nothing but survive. Do that for 10- 20 years, and you’ll be at the head of the pack. The retail sector went through a very bad patch because of policy issues. Walmart went back, but German company Metro AG has steadily progressed and opened many stores in India,” he said.
Firms need to develop India-centric model
Highlighting the need for MNCS to develop India-specific business models, he said, “McDonald’s, known for beef burgers, had a tough time when they came to India. Things only started going well when they included Aloo Tikki, Mac Veggie, and other food items at a nominal price on their menu. The ability to adapt and change the model is the key to survival. It is also necessary for MNCs to employ an Indian to head their branch in our country.”
ishani.bose@goldensparrow.com