They derived monopolistic statures from the Indian government’s protectionist policies, which made them conglomerates more by chance; until of course, liberalization brought in the competition much required by the Indian economy. Dismantling of old legacies and burdens has since become an unavoidable imperative for these companies as well. Professor Tom Kirschmire, London School of Economics, has tremendous faith in the Indian model of growth, more so than in China; but feels that the "conglomerate structures themselves result in capital getting blocked."
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Source:- IIPM Editorial, 2006
