Abstract:
Globalisation has thrown challenges of competition, price pressures, quality expectations, efficiency of management, cost-effective solutions etc. to Indian Industry. While large industries have risen upto these challenges in a short period, the SME sector and entrepreneurs are facing crisis. Latest technology, updated manufacturing process, Quality systems and procedures, cost efficient sourcing, determines success of operation of the SME. Conventional sources of technology and related knowledge of adaptation are no longer adequate to the entrepreneur to meet the demands of expectations of the market forces. The emerging source of latest technology for the entrepreneur is FDI. Association with MNCs will be the route to success in the new Era of entrepreneurship. FDI / MNC provide to the entrepreneur the latest technology for manufacture, establish international manufacturing practices & Quality systems and enable the entrepreneur to become a world class manufacturer. In this process the entrepreneur gains the capabilities and competence to not only meets global competition in India but also to address global markets. This paper presents this new source of technology and illustrates with case studies.
