Word: planting
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...more companies are coming around to Lheem's thinking. Near Hyundai's plant, Nokia opened the first phase of a $150 million mobile-phone factory in March. In the state of Orissa on India's east coast, South Korean steel giant Posco plans to construct a $12 billion mill. SemIndia, a company formed by chip-industry executives, will break ground in June on a $3 billion semiconductor factory in the southern state of Andhra Pradesh. Others are coming around, too. Dell Computer recently announced its intention to build a factory in India, joining those it already has in China...
...year, at world-class quality levels. Hyundai has been shifting production of its smallest cars to India to take advantage of low costs, thereby keeping the business profitable. One-third of its cars produced in India are exported to Germany, Peru, South Africa and elsewhere. Opened in 1998, the plant was operating long before Hyundai opened factories in China or the U.S. and the South Korean carmaker is already building a second, $1 billion facility next door. Why? "We are going to use India as an export hub, and the domestic market is also growing very fast," says Lheem Heung...
...China factor or rather, the anywhere-but-China factor. Korean giant LG Electronics exports to the Middle East from appliance and consumer-electronics factories near Pune and New Delhi because it's faster to ship to those markets from India than from China. The company recently opened another Pune plant to make optical-disk drives for Europe. "We didn't want to depend on the Chinese for everything," says Kim Kwang Ro, managing director of LG Electronics in India. "Our company decided to diversify...
...heart of India's insular business establishment the last business group you'd have turned to for radical thinking, or owning anything abroad. The group's founder, J.N. Tata, was a nationalist driven by the idea of a strong, self-reliant India. He gave the country its first steel plant, first hydroelectric plant, first textile mill, first shipping line, first cement factory, first science university, even its first world-class hotel. His successors among them J.R.D. Tata, India's first pilot created the first airline, first motor company, first bank and first chemical plant...
...behind Tata's affinity for Bangladesh and Africa. Tata group recently finalized a $3 billion power, steel and coal deal in Bangladesh, the biggest investment in that country's history. In South Africa, the group has investments in mining, tourism and engine manufacturing. There is an instant-coffee plant in Uganda, a bus factory in Senegal and a phosphate plant in Morocco. "We look at countries where we can play a role in development," says Tata. "Our hope in each is to create an enterprise that looks like a local company, but happens to be owned by a company...