Exact(60)
Western firms are particularly cautious.
Western firms build too, but also buy.
The Western firms have another advantage.
They're contractors and distributors and partners with big Western firms.
At the same time, globalisation gives Western firms more tools.
Some Western firms routinely fish in a global brain pool.
Yet Western firms will face stiff local competition.
For the 100 biggest Western firms the figure is 52%.
Whether Western firms can truly learn the ways of the jugaad, however, remains to be seen.
For Western firms all this heralds greatly increased competition as Asian firms become more sophisticated.
"It used to be that Japanese companies were next to Western firms in popularity," he added.
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