MNCs eye emerging market worth 45 percent global GDP

Monday, 25 April 2011, 15:37 IST
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MNCs eye emerging market worth 45 percent global GDP
New Delhi: Business in fast growing markets like India has become a priority for multinational firms, as the developing world is expected to produce nearly one billion households with earning more than $20,000 in next 15 years. According to global management consultancy McKinsey & Co, "creating a powerful emerging-market strategy" has moved to the top of the growth agendas of many multinational companies. The reason behind this shift in focus is seven emerging economies -- China, India, Brazil, Mexico, Russia, Turkey and Indonesia-- that are expected to contribute about 45 percent of global GDP growth in the coming decade, McKinsey said. "The diversity and dynamism of China, India, and Brazil defy any one-size-fits-all approach. But by targeting city clusters within them, companies can seize growth opportunities," said the report.
Source: PTI