... market and non-market factors discussed above, India still imported more than 70% of its demand. At the same time, over last few years many global medical technology players started showing increasing interests in India and other emerging markets such as China. To them, these markets offered a new...

..., with the economy recording robust growth across all economic sectors, many MNCs started viewing India as a promising emerging market. ¹² As part of their emerging market strategies, MNCs initially largely targeted high-income and upper middle-income consumers. Only a few MNCs realized that consumers...