Neither worship it nor throw stones at it -- just learn to live with globalisation.
Hindustan Lever is an ‘Indian’ company, with brands that are part of many Indians’ lives -- Dalda, Lux, Lifebuoy. But 74 per cent of it is owned by UK-based Unilever. Infosys Technologies is an ‘Indian’ company, almost all of whose turnover -- and profits -- comes from services delivered outside India. Americans can buy its shares on the Nasdaq as easily as you can on the National Stock Exchange. ‘Foreign’ institutional investors own a huge chunk of this company. So, how ‘Indian’ are Lever and Infosys? Globalisation affects your investments like never before.
You worked for a head-hunting firm that had good business from a big software company. Then, the software company got taken over by a US-based leader, which had its own German head-hunting advisor. Your company closed down. You joined a Finnish cellphone company at four times your last salary, stock options (at the Nasdaq) aside. Globalisation affects your very source of livelihood.
Opinion in Outlook Money