India-based Tata Group chairman, 71-year-old Ratan Tata (pictured), has pushed to expand internationally. In an interview with a WSJ reporter Paul Beckett, he talks about the value of recent acquisitions his firm has made, succession plans for when he retires and how Indian companies can manage their image in the United States.

First, though, a couple of highlights.

When asked about two specific acquisitions:

Tata: If we assume that the global meltdown is a phenomenon that will be over in the near term, I think we will look back and say that these are very strategic and worthwhile acquisitions.

What has he done well?

Tata: One company standout is Tata Motors. It was particularly badly hit with its acquisition of Jaguar Land Rover, which was in trouble because of the collapse of the auto industry abroad. Tata Motors was able to extinguish its borrowing of $3 billion through this difficult period, and most people don't realize the magnitude of that task. This was executed very quietly and very successfully. It was achieved by raising new capital and it was achieved by liquidating some of the assets. And it was done by increasing margins by doing away with some loose practices.

How are you conducting the search for your successor?

Tata: ... I would hope, would have integrity and our value systems in the forefront and hopefully would carry on the path that we have tried to set for the company's growth.

Interrupt: Amazingly, 65 percent of Tata's revenues come from overseas.

How have you seen the relationship between India and the U.S. developing both on a government-to-government and business-to-business level?

Tata: ... We should not be aggressive and alien to the kind of pain that is happening [in the U.S.]. And we should find ways to be complementary to the needs of U.S. companies and not in fact be a pain to them. I believe we still have the cost advantage which we can use to the benefit of U.S. companies without in fact taking jobs away from them. If we can overcome the difficult period that the U.S. is undergoing, I think we can emerge as a very strong business ally of the U.S.

Read the entire interview here.

And the first thing you must remember to do is to throw out your traditional global business strategies because they won't work in the developing world.

Let's take a look at why and capture some answers along the way on how to find success in these important new environments where hundreds of millions of potential customers live.

Lessons From the Developing World

Additional resource:

Can world economy count on developing countries?

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Is Wal-Mart's deep retail discounting formula doable in India? Only time will tell.

India is part of Wal-Mart's rapid global expansion under Mike Duke, the former head of the company's international division who in February became CEO. In his previous job, he recruited native-born managers in international markets who understood local customs. Mr. Jain, for example, had worked more than 20 years here for Unilever PLC and Whirlpool Corp. Wal-Mart's 3,400 international stores generate close to one quarter of the company's revenue.

The arrival of big-box wholesalers and retailers in India was a major political issue a couple of years ago, with widespread protests from small merchants. But as the Indian economy has slowed, the furor has eased. Shoppers became accustom to larger stores from local retailers such as Pantaloon Retail India Ltd.

Read more here.

I argue for globalization, not the simplicity (limitedness) of localization.

What do you think?

Read more here.

Here's what Gordon Brown thinks. He writes a crafty commentary, "Don't Go Wobbly On Trade," for The Wall Street Journal.

Here's what else he says:

We also need to reaffirm our commitment to resist protectionism, especially when rising unemployment increases the pressure and temptation to put up trade barriers. Creating more barriers to global trade is a surefire way to prolong the recession.

See what you think. Agree? Disagree? Weigh in to let us know your thoughts!

Thank you.

It goes to show you how important speaking more than one language is to our world (growth potential appears to be enormous). The Arlington, VA-based language instruction company, Rosetta Stone, saw its share prices soar last week in its debut on the New York Stock Exchange.

As reported in the WSJ on Friday, April 17:

"We have a real opportunity to grow globally," said Rosetta Chief Executive Tom Adams after the stock began trading.

Read more here.