A preparatory school for Indian companies aspiring to become multinational corporations is in the offing.

The Confederation of Indian Industry has set up the Indian Multinationals Council, the first of its kind, to provide inputs to companies wanting to try their luck abroad.

This is also the first initiative of Anand Mahindra as the new president of the CII. Mahindra, vice-chairman and managing director of Mahindra & Mahindra, took over from Ashok Soota on Wednesday. It is customary for every new president of the industry association to set an agenda for his one-year term.

Continuing with Soota's focus on improving the competitiveness of Indian industry, Mahindra has added the job of nurturing Indian multinationals.

"I have retained the old theme but have added 'Building Indian MNCs' to it," he pointed out.

CII Director-General Tarun Das added that the council would have 10-15 members from companies with significant overseas exposure.

The council will be supported by a secretariat put together by the CII. It will act as a thinktank, and develop a roadmap for companies planning to expand abroad.

In the very first day of the council's existence, the CII has appointed a chairman in D S Brar, managing director and CEO of Ranbaxy Laboratories Ltd.

"I spoke to him in the morning, and he has agreed to our proposal. Ranbaxy is a true multinational," Mahindra said.