Shining Brand India
With the call of ‘Make in India’ by the Indian premier Shri Narendra Modi, brand building is getting more attention and momentum in and outside the country. It is quite pertinent to understand its image in the minds of the citizen of India and other nationals in the present economic system.
For many reasons, India has been looked by the outer world with a strange view. People from west had a weird image of us. Even in this age of fast electronic communication and internet, where things have become so transparent and easily accessible across the globe, people from outside India have a bit mingled and hazy idea about it.
Of course, India is moving with fast speed of economic growth and development; and this might be a big worrying factor for many developed countries as it is going to be a great challenge to their economic supremacy.
GDP Share in the World Economy
Researchers at Howard University claimed that India will be the fastest growing economy in next ten years.”India has the potential to be the fastest growing economy over the coming decade… India tops the global list for predicted annual growth rate for the coming decade, at 7.0 per cent,” new growth projections presented by researchers at the Centre for International Development (CID).
Besides Howard University projections, there are many global entities which have claimed India to have double digit growth in next few years from here.
Growth Rate of GDP
India’s GDP growth rate as of now is one of the highest in the world i.e. 7.5% (forecast for the financial year 2019-20). Moreover, the interesting part of growth rate is that it is in the increasing phase whereas all other relevant countries like China, Russia, Brazil, South Africa, etc. are having a declining growth rate in the GDP.
India is the fifth most attractive destination as per the Survey on Global CEOs. The survey was conducted by Price waterhouse Cooper in 2018. China is just ahead of India on 2nd position whereas USA still retains the first position in terms of investment destination. India has outplayed major economies e.g. Japan, France, Canada, etc. as investment destination.
As per one of the reports of Ernst and Young, India is ranked the most attractive destination by UK investors. Some of the glimpses of the report are given below for a better understanding of India’s image in terms of investment destination:
- India is a leading destination for UK investors, with 36% ranking it as the most attractive market.
- About 60% of UK-based companies are looking at entering/increasing existing operations in India over the next year.
India has got a great booster in terms of investment destination in the last five years. Samsung, Oppo, Hyundai, Suzuki, Honda and many more MNCs are investing in India to make it a global production hub.
Political System and Stability
India is surrounded by major democratic countries i.e. Sri Lanka, Pakistan, Nepal, Maldives, Afghanistan, and Bangladesh. Neighbouring country China is a communist country whereas Myanmar is military run state. Let us examine each country’s political stability in comparison with India. Sri Lanka is a democratic country but highly upset with the domestic insurgencies by the LTTE and other sects. There was a series of terrorist attacks on churches and residential area on Easter April21, 2019. The attack was believed to be a revengeful act against Christchurch attack on March 15, 2019, in New Zealand. Pakistan has a fake democracy widely known to the world as it is completely military run state. Nepal was a monarchy but of late they opted for democracy; and still struggling to settle as a democratic state. Maldives is very tiny island and has long history of military coup. Needless to say that Afghanistan is still fighting with the shadows of Taliban. Bangladesh is a democracy trying to settle down but political maturity is still missing. China is doing well with its controlled economy but no one has forgotten massacre of almost ten thousand people at Tiananmen Square in June 1989 in Beijing. Myanmar is a military run state.
It is difficult to be sure about the political stability of neighboring countries of India. However, we may consider the following points to put India in a highly stable country in terms of political stand:
- Complete majority in the Parliament by a single party for a consecutive second term 2014 and 2019(BJP)
- Not a single military coup in independent democratic India
- Multi party political system with a national and regional layer
- Strong and active judiciary system having a control over Indian functionary machinery
- Effective legal system to make system transparent to a certain extent
- Checks and balances on Political system by NGOs
- Vigilant public participation in political activism
Despite all judiciary strength and peoples’ active participation in political activism, India is unable to control its corruption graph. Corruption perception of India is very high in India and abroad. Every day, we experience new ways of corruption being innovated by Indians. Abdul Karim Telgi is a name to be ever remembered for his innovative approach of doing corruption through fake stamp papers. Later, it was revealed that some political leaders were at his back. Fake companies are promoted to get Government tenders and contracts and after sucking public money, these companies vanish out. One need to pay manifold money for getting his/her driving license form RTO. Nexus of politicians, bureaucrats, criminals, legal experts, law breakers and dishonest people have made this country a land of scams.
However, these revelations of corruptions are possible only because there is a system to control and prevent corruption. Corruption is on a high in our neighboring countries too but our concern is to control it.
As per the Transparency International’s latest report, India is less corrupt country in comparison to its neighboring countries. India has improved its corruption index i.e. 78 out of 180 by Transparency International Report of 2018.
But point is to be understood that the methodology used by Transparency International needs to be revisited. In a stern move to curb corruption from the Government offices Narendra Modi Government forcefully retired fifteen tented Income Tax officers in the month of June 2019. Similar treatment was given to the Customs Departments just few days later. It appears that the present Government will be able to a good brand for India in terms of corruption free country.
Global Presence of Indian Corporates
Indian companies are striving hard to make their presence globally and have got some significant achievements also but it cannot be judged in isolation. None of the Indian company could be able to make its place in top ten companies list of Fortune
500 companies whereas as many as 3 companies of Chinese origin are figuring in the same list. The highest ranked company in the list is IOC at 119th position.
Indians Leading Global Corporations
India has the ability to lead the world. Many big global corporates i.e.Intel, Microsoft, IBM, BMW, Google, Motorola, MasterCard, SanDisk, Nokia, etc. hire talented Indians to take their business to heights. Most of the pass-outs from IITs and IIMs are offered high packages by multinational corporations.
Peace Index of India
In terms of peace index, India is not at an attractive position. As per the Global Peace Index 2019 by the Institute Economics and Peace, India stands at 141st position whereas China holds 110th position. In the group of BRICS countries, Russia, South Africa and Brazil hold 154th, 127th and 116th position respectively. India has the solace that it has a better position than Russia; and it is quite close to Brazil and China. However, India image in terms of peace needs to be improved a lot. Its image may be improved provided radical groups are kept at bay.
Boosters to Brand India
The effort by the Government of India is surely giving a great booster dose to the Brand India. One boy from Singapore opined that India is a dustbin. We need not to get into argument but to a certain extent we need to look around us to take care of cleanliness of our environment. Indian Premier has given a great booster to Brand India image by launching Swachh Bharat Abhiyan (Clean India Movement). The Government of India launched Start-up India on January 16, 2016, to motivate and help young entrepreneurs. There are tremendous efforts taken up by the Government of India and other NGOs to give momentum to the drive. Some of the important boosters to the Brand India are enlisted below:
- Clean India (Swachh Bharat)
- Digital India
- Skill India
- Make in India
- Start-up India
- Indian Foreign Policy
- Foreign Strategic Alliance
- Inviting Foreign Heads to Various Events
- Global MoUs and Business Relations
10.Resolving Land Issues with Neighbours
- Strategic Balance in Strategic Strength
- Influential India at UNO
- Special Government
Attention on Brand Building
India has a great legacy and is considered to be one of the oldest economies in the world. In modern times, it can achieve distinction if Brand India is created well. Despite a number of strengths, in India, everything is not as per the aspirations of global business houses. Creating sustainable business environment and making India a production hub of the world is a challenging task. Bureaucracy, corruption, delays in clearance of business proposals, ethical standards and work culture, tax reforms, political interventions, socio-economic barriers, regionalism are some of the challenges. India needs an effective strategy to carry forward the call of ‘Make in India’ to promote Brand India.
The second edition of National Democratic Alliance (NDA) is quite promising. Prime Minister Narendra Modi is making is best efforts to build a new India on the foundation built up in the NDA’s first regime during 2014-2019. Business proposals are getting processed through one window in a very speedy manner. As per one estimate India is manufacturing almost 80% of its mobile phone requirements. Nevertheless efforts are made to have surplus production for export purposes. The country is now heading towards becoming arms and ammunition leader at global market. Good number of arms projects is under consideration for setting up in India. A concentrated effort is made by the Government of India to improve economic infrastructure to the global standards. Indian Premier is sparing not a single opportunity to attract global corporate leaders to come and set up their business operations in India. After winning second consecutive Lok Sabha election Narendra Modi flew to G20 summit having a target of enhancing image of Brand India. Best of the efforts are put in to streamline bureaucratic set up at Government level. This is the first time that the Government of India has accommodated almost 9 non IAS cadre administrators to the secretary level job. The Modi Government has decided to induct 40% non-IAS cadre people to the Government administration to smoothen the procedural matters.
The present Government is taking best of the efforts to take care of poor people lining below the poverty line and at the marginal stage. Maa Amritam Health Card is giving best health facilities to the poor. PM Jan Dhan Yojna has benefitted millions of Indians. LPG connection to down trodden people has crossed 6 crore mark. Health and accidental insurance just for a token money is a mega success of the Government. Pension to the various categories of people by the Government is getting momentum. India is shining brand across the globe today.