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Article: Majestic progress: India's economy has come on in leaps and bounds overthe past 10 years, but companies on the subcontinent will have to move ever more quickly to keep up with the pace of change. Reet Chaudhuri, Manish Mohnot andNarayan Seshadri investigate the 'Red Queen effect'.(India)
- Article from:
- Financial Management (UK)
- Article date:
- October 1, 2003
- Author:
CopyrightCOPYRIGHT 2003 Chartered Institute of Management Accountants (CIMA). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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"Well, in our county," said Alice, still panting a little, "you'd generally get to somewhere else if you ran very fast for a long time, as we've been doing."
"A slow sort of country!" said the Red Queen. "Now, here, you see, it takes all the running you can do to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!"
An extract from Through the Looking Glass by Lewis Carroll
The first 40 years of India's independence witnessed a highly regulated economy characterised by a tariff-quota-licence regime and relative isolation from the rest of the world. As a result, the business environment was ...