On May 25, 2011, Dr. Rajneesh Narula, Professor of International Business Regulation and Director of the John H. Dunning Centre for International Business at Henley Business School, University of Reading was the keynote speaker for the Jack Austin Centre Seminar Series. Dr. Narula’s presentation was titled “Multinational Enterprises from India and China: Facts, Opportunities and Limitations.” Dr. Narula contends that despite the growing fascination with emerging country Multinational Enterprises (EMNEs), the evidence indicates that this not a large phenomenon, and is limited in scale and scope. He revisited theory to understand the relationship between the internalization of EMNEs, their ownership advantages, and the nature of their home country location advantages. He then examined India and China by comparing the nature of the outward investment of their MNEs as well as to seek to understand their opportunities and limitations that determine their growth.