Multinational companies seeking to tap the vast potential of emerging markets often find themselves stumbling through a fog on unsure feet, discovering that their usual way of doing business will not necessarily bring them either the desired growth or success. In this article, Professor Amitava Chattopadhyay offers some important insights to MNCs operating in emerging markets based on the experiences of companies in India who cracked the code and broke the mould. The centre of gravity of growth has been steadily but systematically shifting away from the traditional markets of the developed world − North America, Western Europe and Japan − to the emerging markets. A few quick numbers tell the story. In the current decade, the BRICS economies (Brazil, Russia, India, China and South Africa) have grown 3.5 times faster than the G7 economies,1 and according to the World Bank, China today is a hair’s breadth away from becoming the largest economy in the world in purchasing power parity (PPP) terms, followed by India, having over taken the usual stalwarts of the last decade, such as Japan and Germany. As such, the so-called emerging markets have become the future of growth, and companies are rushing in or expanding their footprint in them to sustain growth. Thus, for example, Unilever plans to increase the percent of sales coming from emerging markets, which is currently around 60 percent to 70 percent.