James P Womack, the Founder and Chairman, Lean Enterprise Institute is quite explicit in stating the India is a better bet than China for the auto maker Toyota Motors. Lean Enterprise Institute is quite famous around the world for its lean thinking and concepts.
"If I were a big company and wanted to go somewhere where I could truly control my destiny, it would have to be India. The country is stable and has respect for property rights. I think Toyota would be completely crazy not to put a strong focus on India," says Womack. He has also co-authored the book "The Machine That Changed the World" with Daniel Jones. Ever since then he is considered to be an authority on Toyota Motors Corporation. He firmly believes that the existing economic conditions has put Toyota in a position to take over the top position in the auto world and topple General Motors from its pedestal.
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Womack asserts that the stability and respect for property rights in India give the country a competitive edge over its neighbour. It can easily acquire fast growth with Chinese joint ventures which may collapse some time in future. On the other hand, it can also grow in India at equally fast pace with its young engineers and fresh minds.
“If I were Toyota, I would just accept that there is a limit on my growth rate. What is the point in being number one? My advice to them would be to go slowly and do it right. They need to grow as fast as they can build their management systems,” he says.
