Indian Brands Go Global: Competing on Design & Quality
The Indian economy has undergone a significant transformation in recent years, with a growing number of Indian brands making a mark globally. Gone are the days when India was solely focused on attracting foreign brands to set up shop on its soil. Today, Indian companies are not only exporting their products but also competing on design, quality, and innovation on a global scale. As perceptions about Indian brands shift, businesses are building brand equity abroad, establishing themselves as serious global contenders in industries ranging from consumer goods to technology.
According to Dheeraj Sinha, CEO of FCB India, “Indian brands are winning on design, quality, and competitiveness globally. They are not just following the market leaders but are creating their own niches and categories.” In an interview with The Core, Sinha highlighted the changing landscape of Indian brands, from being perceived as inferior to becoming serious global players.
One of the key factors contributing to the success of Indian brands is their focus on design and quality. Gone are the days when Indian products were associated with poor quality and cheap material. Today, Indian brands are investing heavily in research and development, ensuring that their products meet international standards of quality and design. Take, for instance, the likes of Titan and Titan Sundowner, which have revolutionized the watchmaking industry with their stylish and high-quality timepieces. Similarly, companies like Havells and Orient Electric have made a name for themselves in the electrical appliances sector with their innovative and energy-efficient products.
Another significant factor is the strategic marketing approach adopted by Indian brands. Gone are the days when Indian companies relied solely on traditional marketing methods. Today, they are embracing digital marketing, social media, and influencer marketing to reach a global audience. Companies like Ola and Uber have leveraged social media to create a global presence, while companies like HUL and P&G have partnered with popular influencers to promote their products.
Indian brands are also leveraging their unique strengths to compete globally. For instance, companies like Haldiram’s and Vadilal are using their traditional Indian recipes to create unique and authentic products that appeal to global consumers. Similarly, companies like MTR and Britannia are leveraging their expertise in traditional Indian food to create innovative and healthy products.
The Indian government has also played a significant role in promoting Indian brands globally. Initiatives like Make in India and Start-up India have provided a fillip to the Indian manufacturing sector, encouraging companies to adopt new technologies and innovate products. The government’s efforts to simplify regulatory processes and reduce bureaucratic hurdles have also made it easier for Indian brands to expand globally.
The success of Indian brands globally is not limited to a few sectors. Indian companies are making a mark in various industries, from consumer goods to technology. Take, for instance, the likes of Infosys and Wipro, which have become household names in the IT sector. Similarly, companies like HCL and Tech Mahindra have made a name for themselves in the software services sector.
The growth of Indian brands globally is expected to continue in the coming years. According to a report by KPMG, the Indian consumer goods sector is expected to grow at a CAGR of 12-15% over the next five years, driven by increasing demand for premium and high-quality products. The report also predicts that Indian companies will continue to invest in research and development, design, and manufacturing to create innovative products that appeal to global consumers.
In conclusion, Indian brands are making a mark globally, competing on design, quality, and innovation. The shift in perceptions about Indian brands is a significant factor, with consumers around the world recognizing the quality and value of Indian products. The success of Indian brands is not limited to a few sectors, but is a phenomenon that is expected to continue across various industries. As Indian companies continue to innovate and invest in design and quality, they are poised to become serious global contenders in the years to come.
