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The rise of emerging Indian multinationals: strategic learning for EMNC foreign market entry and internationalization

Nitya P. Singh (Department of Management and Marketing, Franklin P Perdue School of Business, Salisbury University, Salisbury, Maryland, USA)

International Journal of Emerging Markets

ISSN: 1746-8809

Article publication date: 19 March 2021

Issue publication date: 1 December 2022




The academic literature on emerging market multinational corporations (EMNCs) has classified several strategic options that EMNCs can adopt as part of their internationalization process. Although this research stream does include examples of Indian companies, it has not adequately identified specific strategic practices followed by them as part of their internationalization process. Therefore, this article aims to identify specific firm competencies, home country advantages and strategic practices that Indian EMNCs adopt to achieve foreign market entry and internationalization.


The article adopts a multiple case study methodology supported by unstructured interviews to answer the research question. Using a combination of in-depth interviews and secondary data related to the case study in question, strategic practices of three Indian companies operating in different industry segments are identified and evaluated.


The results highlight that as part of their internationalization process, EMNCs from India adopt a combination of strategic practices that include strategic alliances, acquisitions, entry into targeted geographic markets, localized and innovative product offerings and niche market focus. This mix of strategic practices, in combination with high levels of corporate parenting, plays an important role in the ability of Indian EMNCs to internationalize successfully.


This study contributes to the international business field by developing a better understanding of the internationalization process followed by emerging market multinational firms. In addition, as the article adopts a case study approach, specific business strategies adopted by Indian firms as part of their internationalization process are identified. The study, therefore, provides a strategic roadmap for firms from emerging countries on how to internationalize successfully.



Singh, N.P. (2022), "The rise of emerging Indian multinationals: strategic learning for EMNC foreign market entry and internationalization", International Journal of Emerging Markets, Vol. 17 No. 10, pp. 2740-2762.



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