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Subramanian Ramadorai |
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The internationally acclaimed management expert Sumantra Ghoshal told a rapt audience in a posh Mumbai hotel in early February that India had come a long way. In the decade after the dismantling of the licence raj – the maze of controls and licences that governed industry – a transformation had taken place. A straggly bunch of inward-looking, family-oriented Indian businessmen, who thrived on favour and protection, had given way to new capitalists from the information technology sector, offering globally-competitive services.
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