Submitted by: Submitted by sree2002
Views: 10
Words: 1080
Pages: 5
Category: Business and Industry
Date Submitted: 08/23/2015 08:03 AM
The need for repositioning Brand India
India is a few steps away from being the country that the East would look upon. The
slowdown in Chinese growth, a jittery Eurozone trying to contain the damage of a
prospective Greece exit; the time is ripe for India to project itself as a global leader and
attract more investments to spur growth. A lot of initiatives are being taken by the
government such as the popular Make in India campaign, Digital India and Incredible India,
which has been there for quite some time now. IMF and World Bank have predicted that
India is set to overtake China in growth rate by 2016. The single most important campaign of
the since the new government assumed power has been the Make in India campaign.
Make in India - Hannover 2015 Theme
The make in India campaign has provided the much required facelift for India, with the PM
himself pitching to various companies to manufacture in India during his foreign tours. As a
result, a lot of action has been happening, especially in the equity markets. This is evident
from the fact that the Sensex soared to an all-time high of 30,000 in March this year, before
correcting itself to the 28k levels. Though the idea behind the campaign is pragmatic,
considering the demographic dividend that could be reaped, there is a lot of work to be done
to reposition brand India as an ideal investment hub. One of the bitter critiques of this exportled strategy was the RBI governor, Raghuram Rajan. “The world as a whole is unlikely to be
able to accommodate another export-led China,” he had said. One cannot agree more with his
opinion that India is in dire need of a “Make for India” campaign rather than a “Make in
India” campaign. There are two reasons why we should adopt a different strategy.
Firstly, India is not ready for it yet. Though FDI inflow has increased by 48% from last year’s
figures, infrastructure bottlenecks still persist due to which most of the projects have been
stalled. The...