Make in India may now be a buzzword but for a long time, many local companies have been manufacturing not only for India, but also for global customers. If producing for a price-sensitive local market is tough, succeeding in a quality-conscious international market requires a diametrically opposite mindset and superior capability, which makes thriving even more difficult.
Outlook Business Power of I was conceived with the intention of narrating stories of companies that exemplify the power of Indian enterprise. In the past two editions, we focused on Indian exporters and locally created, globally powerful brands. This year, we bring a mix of companies across seven key categories — pharmaceuticals and medical technologies, financial services, branded consumer products, food and hospitality, industrials, technology products and services, and exports.
As we have emphasised earlier, if we are to capitalise on the much-vaunted demographic dividend, we need to up the game in manufacturing, as that’s essential to create jobs. The new regime has brought in some level of optimism, with prime minister Modi taking the Make in India pitch to global investors. With a policy push in the right direction, there is hope that manufacturing may get a leg-up. If we do get our act together, we will not only be better placed to profit from the next upturn in global demand, but also buy ourselves steady domestic growth.
That’s why we decided to profile outstanding companies across diverse businesses. Our Power of I companies this time are either renowned globally or their businesses have the potential to be global role models. Be it in manufacturing, products or services, these companies have been relentless in serving their target market. Read through to know how these companies succeeded, what makes them stand out and what others can learn from these smart enterprises.