Competition: Plenty, not enough

In a recent column in The Times of India, I showed that Indian business was not a small cozy club of crony capitalists: newcomers kept getting into the top 30 with surprising regularity. Of the 30 companies in the Bombay Sensex in 1990, only nine are still there. The Birlas are down to one company in the Sensex against five in 1990, and the Tatas to four today against six in 1990. Of the six multinationals in the Sensex in 1990, only two are still there. 

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