Reassessing FERA: Examining British firms’ strategic responses to ‘Indianization’.

Michael Aldous, Tirthankar Roy

Research output: Contribution to journalArticlepeer-review

4 Citations (Scopus)
34 Downloads (Pure)


The Foreign Exchange Regulation Act (FERA), introduced in India in 1973, was the culmination of efforts to ‘Socialize’ economic policies and ‘Indianize’ corporate ownership. It resulted in a flight of foreign capital as Multinational Enterprises exited India to avoid these risks, finally driving out long-established British interests. This paper uses new sources to reassess how British businesses perceived the threats of Indianization and analyse how they strategically responded to them. It shows that British owned firms used a diverse range of strategies, some drawing on their extensive experience, knowledge and networks, built through long tenures in India, to successfully adapt.
Original languageEnglish
Number of pages36
JournalBusiness History
Early online date12 Jul 2018
Publication statusEarly online date - 12 Jul 2018


Dive into the research topics of 'Reassessing FERA: Examining British firms’ strategic responses to ‘Indianization’.'. Together they form a unique fingerprint.

Cite this