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Capturing the Essence of Emerging Markets
|by Papri Sri Raman|
Book: "Building Business BRIC by Brick"; Author: Stefano Pelle;
The acronym BRIC was coined in 2003 by global investment banking and securities firm Goldman Sachs to put together four countries - Brazil, Russia, India and China - that the rest of the world today think of as an emerging marketplace.
The BRIC countries leave companies operating in the developed world and needing growth to sustain profitability with little choice but to conquer these emerging markets, says author Stefano Pelle.
An early entry into the BRIC countries will secure a competitive advantage, crucial to the growth of their emerging middle classes, he adds. Budding multinationals sprouting from the BRIC countries are also on the verge of becoming global companies, thus snatching market share from international players.
Pelle, vice-president and chief operating officer (business unit Russia and South Asia) of the Italian confectioner Perfetti Van Melle group and chairperson of Perfetti Van Melle India, has been living in South Asia since 1998 and is a keen watcher of at least three BRIC countries at close quarters.
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