When we think of India’s next phase of growth, we often think of smart factories, data centers and highways. However, another story is quietly unfolding. Indian companies are entering the global stage and this is one of the strongest levers we have for economic growth.
Today, more than 1,000 Indian MNCs operate globally in technology, pharmaceuticals, automobiles, and energy and infrastructure. Our exports contributed 21-22% to India’s GDP last year, underpinning a simple truth: global ambitions are no longer peripheral to growth, but are becoming central to India’s economic strategy.
It’s not random. It reflects two decades of investment in engineering talent, digital systems and manufacturing supply chains. This created a base with which Indian firms can proudly complement globally today with quality, reliability and scale.
Design products for a global customer from day 1
When Jensen-Huang, the co-founder of Nvidia, started the company, he wasn’t thinking of building a graphics card company for America, but a computer company for the world. This difference – designed for global relevance from day one – is what separates the perennial champions from the local ones.
Research and development is the most difficult path – but the only sustainable one
Every established leader today talks about investing in research and development, even if the payback is many years away. For Indian businesses, this means building product capabilities and not just assembly, owning intellectual property and building technical depth with the right workforce.
Yes, research and development is expensive and slows down short-term margins, but in the long-term it gives you the ability to quickly change your product according to market needs.
That’s not all. This can be the only reason why you can serve more markets in the future and move up the value chain. In fact, every company, regardless of industry, is becoming a technology company, which is impossible if there is no continuous investment in research and development.
The US, Germany and China, which dominate technology hubs globally, have not outsourced their innovation. They built it.
A brand in India has to start at the design table
We live in a multipolar world with fragmented supply chains. What do you think will come to the rescue of businesses in situations like China’s cutbacks in the supply of the earth metal? Building and nurturing local supply chains is the only way to build a resilient business and offer long-term supply and cost stability and unique strategic autonomy.
Global companies are boosting the Indian economy
When Indian companies expand globally, they take India with them. World Bank research shows that such companies create better-paying jobs, invest 2x in research and development, bring back dollar revenue and global customer standards, and increase national brand value.
These factors contribute to currency stability and more resilient GDP growth. As Indian firms expand across borders, the nation gains the economic resilience and bargaining power to negotiate bilateral agreements, global partnerships and trade deals from a position of strength.
What India needs to do to build for the world
Having watched several businesses grow over the decades, I believe the next phase of growth will depend less on scale and more on conviction.
For decades, our default has been to look outward for access to technology and capital and inward for scale. We assume that innovations will come from abroad and that capital will flow with them. India is a global powerhouse, home to the third largest startup ecosystem in the world with over 100 unicorns and 180,000 startups.
Entrepreneurial energy is not our limitation. We need confidence in our abilities. The next phase of growth requires building technology at home, allowing global capital to pile on Indian innovation rather than the other way around. It calls for celebrating Indian companies operating globally more than global brands operating in India. We must treat global businesses from India as national assets.
Tapping into the Indian market
India also needs to rethink how it harnesses the power of its own market. The world needs access to Indian consumers, supply chains and talent. This gives India a huge influence. Too often, however, this leverage is traded for short-term wins—quick investment, quick imports, immediate scale without a focus on building a domestic ecosystem.
Our mantra should be to use market access to strengthen local manufacturing and deepen technology. Otherwise, India risks becoming the largest consumer base without becoming a global producer.
Focus is just as important. No country can become globally competitive in everything. India needs to identify five to ten areas where it has natural advantages – energy, digital systems, manufacturing, life sciences – and commit to building at least three of them. This guarantees a scenario where there is aligned policy, patient capital and institutional support by being clearly defined as national priorities.
India stands at a crossroads and is poised to either remain a major market for global companies or transform into a hub that innovates and exports to the world. The way forward depends on prioritizing R&D, manufacturing, capital allocation and scaling domestic capacity, underpinned by strong confidence in its global potential.
Girish Tanti is Co-Founder and Vice-Chairman of Suzlon Group and Chairman of CII’s National Committee and Manufacturing Council for Renewable Energy
