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The harder path; Murugappa Group

The Economist (London), 2013-06, Vol.407 (8838), p.66

Copyright 2013 The Economist Newspaper Ltd. All rights reserved. ;ISSN: 0013-0613 ;EISSN: 1476-8860 ;CODEN: ECSTA3

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  • Title:
    The harder path; Murugappa Group
  • Subjects: Business conditions
  • Is Part Of: The Economist (London), 2013-06, Vol.407 (8838), p.66
  • Description: The contemporary Indian tycoon is supposedly a decadent sort; swanning about in luxury boats and skyscrapers with Bollywood stars while living off inherited empires built on political connections that churn out cash. Yet for all the visible swagger, Indian business is in reality a fierce Darwinian struggle, especially for those just below the top tier. An example is Murugappa Group, which ranks about 20th among Indian family groups by sales and has been flirting with the big league for about a century. After an iffy patch in 2009-10 when it faced heavy bad debts on unsecured consumer loans, this business is now concentrating on loans for vehicles and rural homes. It has grown fast and contributes a third of the group's pre-tax profits. Given its rural focus and clean reputation, Murugappa is a candidate for one of the new banking licences that India's central bank is due to issue. That would allow it to raise deposits and, perhaps, make a leap in size.
  • Publisher: London: The Economist Intelligence Unit N.A., Incorporated
  • Language: English
  • Identifier: ISSN: 0013-0613
    EISSN: 1476-8860
    CODEN: ECSTA3
  • Source: ProQuest Central
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