India has not failed to catch the bus to become the third largest economy in the world by 2050. In this article, Dilip Cherian talks about the need to create a multi--dimensional marketing approach that focuses on the collective strengths of India to build a strong brand of its own.
The People's Republic of China launched its `Brand China' initiative and has successfully managed to infiltrate foreign markets with its brand presence. Tony Blair's `Cool Britain', and Singapore government's `Singapore Roars' campaigns have also met with significant praise and recognition. The concept of nations as brands, or as `brand--states', is rapidly gaining momentum in countries all around the globe. India has started to acquire a formidable presence in international markets today, with our GDP stated to grow at an impressive 8%, as compared to the world average of approximately 3%. Goldman Sachs has predicted that India will have the third largest economy in the world by 2050, with over 35% Silicon Valley start--ups being run by Indians, and 100 Fortune 500 companies outsourcing work to India.
Clearly, the time has arrived for Brand India to unleash itself in the global marketplaceto define and promote its vision as a nation. The idea behind Brand India is to develop a widespread global brand presence and recognition of Indian people, products and services. The branding challenge at hand is to surround Brand India with positive symbols and images, thereby enhancing consumer perceptions of quality. Building a reputable brand with unique and diverse attributes mandates a long--term vision along with a team--oriented commitment. It will require Indian companies and the government to understand how brand identity is cultivated, enhanced and maintained. Only by developing and nurturing Indian intellectual strengths and leadership, and instilling a sense of national pride in our citizens, will we be able to collectively build Brand India. |
