This refers to 'Should India Inc rethink globalisation?' (February 12). Underperformance as a basket of India Inc's overseas investment is primarily due to some missteps like those mentioned in the article. However, in many cases, the reasons might not just be a slower growth rate in non-US territories. It is an unfortunate coming together of several forces like the financial crisis of 2007, over-leveraging, some exuberance about growth prospects and a lot of management hubris.
P Datta Kolkata
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