As Indra Nooyi puts it ,'Globality takes you inside the hearts , minds and operations of the developing -country companies that you will soon be engaging with - as competitors, partners, or your new owners', this is a fast growing phenomenon that is transforming the outlook of all the nations.
Long ago, when the mercantilists believed in international business being a zero -sum game, trade with other nations had a colonial implication & resulting miseries. However, today with the New trade theories like those of Paul Krugman & Michael Porter , the trade now becomes a win-win situation for all the engaging nations due to concepts of intra-industry trade & developing super specializations for consumer surplus. The new strategy believes in a optimal fit between the resources & demand at a global scale. It talks about diffused supply chains with partners all around the globe actively promoted & supported by the State.
India's engagement as value creation partners with the leading transnational corporations in the I.T., automobile, banking and many such industries is a successful implementation of the strategy to evolve symbiotically with other nations. The national competitive advantage now becomes a value creation activity for the global industry .
It is necessary to participate in an ever increasing inter-dependent world with the intention to co-operate but not collude or engage in hyper competition .
