Strategies to Meet Competition

Abstract

Sectoral studies are an integral part of strategic planning exercises. Such studies are also considered crucial in planning and understanding entrepreneurial responses. This paper meticulously scans the CNC lathe producing segment of the Indian machine tool industry to account for its lack of price competitiveness despite technological dynamism. The author argues that given the domestic orientation and low installed capacities of the Indian firms, it would require a complete strategic turnaround for them to be able to combat forces of liberalisation and be internationally competitive.