The document discusses strategies for Indian brands to compete successfully against multinational corporations (MNCs) that have gained market share. It argues that the main reasons for Indian brands losing ground internally rather than externally. It outlines Onida's case study of fighting back against MNCs by focusing on high-end products, modernizing their brand image, and improving internal systems and processes. Key lessons include addressing internal management, quality, and mindset issues rather than blaming external factors. Indian brands must prove they offer world-class products and fight to dominate both premium and volume market segments.