Overview of Indian Multinationals

India is currently the world’s second most populous nation and the third largest economy on a purchasing power parity basis. These are impressive statistics for a country that attained independence in 1947, and only began liberalizing and opening up its economy in 1991. However, Indian firms are not yet represented on a global stage, and are relatively few in number with respect to their US, European, Japanese and most recently Chinese counterparts. In this chapter we provide a historical overview of the Indian MNC from independence to present times. We draw on institutional, industry, and firm factors to explain their evolution and discuss the way forward for Indian MNCs including challenges and opportunities. We also provide some suggestions for governments and industry to further facilitate the growth of the Indian MNC.