They give up and exit with minimal resistance from a very large market in order to divert limited resources to serve less competitive markets. The Indian firms in this study appear to have a more positive outlook, take more risks, possess a global orientation and aggressively pursue market opportunities. With few exceptions (such as the case of the Italian firm Nomination that, after 9/11, significantly increased its market penetration selling gold “I love NY” pendants while all of its Italian competitors where struggling to curtail their losses in the US market), the entrepreneurial ability to transform risks into market opportunities (Bjerke and Hultman, 2002; Carson et al., 1995) that Italian gold firms used to have is fading.