Another Indian is all set to climb up the global corporate ladder. According to sources, former MD of Whirlpool (India) Raj Jain has been offered the position of president, Wal-Mart Asia, though, nothing is official yet.
Mr Jain, became Whirlpool's MD in '01 and moved to the Asia-Pacific headquarters in Shanghai in '04 as the regional head, marketing and product delivery, Whirlpool Asia. India is the biggest market in Asia for US-based white goods major Whirlpool Corp and the Indian operations were not in a good condition when Mr Jain left for China.
Critics consider the Wal-Mart offer as a big career leap for Mr Jain. Wal-Mart, the world's largest retailer, has been actively scaling up its activities in Asia. It has 56 stores in China and plans to open 20 more this year. The retailer has two offices in India, where it awaits relaxation of norms, in foreign direct investment in retail.
India is already the retailer's fastest growing sourcing destination. Asia recently overtook Eastern Europe in the AT Kearney '06 Global Retail Development Index to emerge as the dominant region for global retail expansion.
While India emerged as the most attractive country for retail expansion, Vietnam, China, Thailand, Republic of Korea and Malaysia figured among the top 15 in the annual study by the management consulting firm.