Towards Understanding Transformational Leadership in India: a Grounded Theory Approach

Indian industry, which is witnessing an extraordinary rate of change. A quick look at the latest statistics from the Indian industry helps us understand this point better. Today, there is widespread recognition, both at home and abroad, that India is one of the fastest growing economies of the world (Lahiri, 2005). For the first time in history, India’s economic prowess became an issue in the U.S. elections, and it continues to be a burning political issue with many countries abroad (NASSCOM, 2005). India’s national association of software companies, NASSCOM, estimates that some $16.3 billion (Rs. 71,720 crore) worth of work (in the Information Technology (IT) and IT-enabled services space) will be offshored to India in 2005, and this number is going to be on an increase for quite some time to come. Reliance, Tata, Birla, Ranbaxy, Cipla, not to speak of Infosys and Wipro, have established Indian operations in foreign lands (Business Today, 2005). During the last financial year, Indian companies spent around $1 billion (Rs. 4,400 crore) on overseas acquisitions, giving another clear indication that India has arrived on the global stage (Dobhal, 2005a).