In an era of globalization, `corporate branding' is the biggest asset for any company. Mass production and distribution of modern businesses have led to a proliferation of products across the world, which makes it very difficult for the consumers to make a choice of products and services. In such situations, strong brands can make a differentiation between similar products and consumers can use corporate branding as a tool to make purchase decisions. Surprisingly, not a single Indian brand figures in the list of top 100 global brands. It's high time for the Indian corporates to engage in brand-building exercise, so as to face their international competitors and to extend their businesses beyond Indian boundaries. This is not because the Indian companies do not want to build brands, but they have never felt the need for it. In the pre-liberalized world, the economy was well protected, so companies didn't need brands to pull the customers.

India has the brand capital. It has the intellectual capital. All we need is a sense of belief in ourselves that we can turn our natural advantages into the creation of global brands. The world economy today is characterized by globalization, implying the relocation of production sites and dynamic changes in the management strategies of businesses.The speed of communication, the complexity and the size of the networks involved, the sheer volume of trade and the interaction and risk gives globalization a peculiar force. Manual Castells (1996)> states that in the last two decades of the 20th century, a new economy emerged around the world.

There was also a shift in the power away from nations towards multinational corporations. Partnership with foreign companies in the form of direct investment, joint ventures, mergers and acquisitions and thus developing cross-border buyer-supplier relations are the hallmarks of globalization. It isn't just that large corporations operate across many countries; they have also a global market presence for their products. Brands like Coca-Cola, Nike, Sony, etc., have become a part of life for a vast number of people around the world. It is evident worldwide that the performance of companies is directly linked with the strength of their brand name.

A `corporate brand' is not a by-product. It is not an ad campaign, a logo, a spokesperson, or a slogan. Rather, a corporate brand is the product of millions of experiences that a company creates—with employees, vendors, investors, reporters, communities and customers, and the emotional feelings these groups develop as a result. Most importantly, like other assets, a corporate brand is a business asset that can produce great results when thoughtfully managed over time.

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