The merger/ takeover/ buyout of India’s largest drug maker, Ranbaxy Laboratories, with Japan’s third largest, Sankyo Daiichi, has tickled the New Indian Express on the wrong side. :
“Ironically, in India, Ranbaxy has been much admired for the way it acquired firms all over the world and acquired a truly multinational character….
“Out of the [Ranbaxy-Sankyo Daiichi] deal, the Malvinder Singh family and their associates are all set to become richer by a cool $4.6 billion (or over Rs 19,000 crore).
“What has become abundantly clear from the entire episode is that what matters most in business is profit—patriotism be hanged in this day and age of globalisation.”
Similar questions could have been asked of Thums Up when Ramesh Chauhan decided to sell out to Coca-Cola in the early 1990s.
Should Indian businessmen wear their “patriotism” on their balance sheet and run companies come hell or high water? Is it wrong for Indian companies to merge with or sell out to foreign majors if they are getting a good bang for their buck?
Interesting… but business sense definitely rules over patriotism… besides, it may be wrong to compare these two fields… we are definitely happy when Indian Business Tycoons buy oversease firms… (the case of arcelor mittal)… so why not the other way round ?
The moot question is how does one measure patriotism?
Is it purely waving a flag and screaming in support of your cricket team in the field. Or is it lending a compassionate hand to the fellow Indian who is sick and lying unattended on the streets?
Is it jumping in joy when an Indian is crowned Ms. Universe? Or is it standing by millions of Indian women, who are victims of dowry, abuse and other forms of harassment?
Is it being delighted with Bobby Jindal who has reached dizzying political heights in America? Or is it criticizing Sonia Gandhi for her Italian genes?
Is it brimming with pride when a FEW Indian school children win international spelling competitions? Or is it taking up the cause of MILLIONS of child labourers?
Is it watching our chests swell with pride when a Lakshmi Mittal is crowned as the richest man on earth? Or is it sincerely paying taxes to our Indian govt.?
Pulp patriotism is spreading like wildfire in India. But real patriotism calls for sacrifice. Even if you hate cricket, you are more of a patriot, if you change the life of at least ONE Indian child labour.
Its their private company , started and built on their strength and capital and not on public money. So they should be free to do with it as they please. That is the meaning of “Private Property”.
By Building this company in India and not outside India I think they have already shown their patriotism.
More over to link this with patriotism is purely a commie link of thinking. And we all know how patriotic they are…
Surprised that churmuri didn’t raise the issue of nationalizing Ranbaxy..
Shareholder interest comes paramount. The day people start buying shares based on patriotism instead of return, we’ll see companies staying in Swadeshi hands.
churmuri is becoming too socialist off late. As someone else has previously stated, companies exist to make a profit not to boost your (or mine for that matter) sense of patriotism. Even if they were public (I am not aware if they are or not) then if thats what the shareholders want, then thats what they get. Aside from that what they choose to do with their money is their business, not yours or mine.
And as someone else pointed out, just because it was started or was run by indians doesn’t make it part of a nation’s identity – you do not define India in terms of ranbaxy, acrelor or any other company.