The end of conglomerates?

Standalone companies in high-growth areas have raced ahead in the past decade

The first thing that strikes an observer of Indian private sector business is the dominance of diversified business groups across industries. From metals to automobiles, energy to consumer products, retail to technology, business in India continues to be dominated by companies that are part of a large conglomerate, or a division or subsidiary of a large conglomerate company.
 
For example, five of the top six private sector companies in this year’s list of BS1000 companies are either part of a conglomerate, or are conglomerates themselves. The other four firms are central public sector undertakings (PSUs). There are 37 private