There was a time, not too long ago, when Indians craved imported products. Locally-made stuff was considered and, often, was inferior to anything produced anywhere else in the world. Travellers returning home brought back suitcases stuffed with garments, cosmetics, foodstuffs etc. The well-off didn’t mind shelling out three times the original price for the privilege of driving a foreign car on Indian roads. ‘Foreign’ was an attribute much coveted.
Then came stage II. India became a supplier to the world, churning out clothes, shoes and accessories that found their way to store shelves all over the world. The brands were international, but the ‘Made in India’ tag was there for the world to see.
Now we’re in stage III, where the rest of the world flocks to India-made, India-branded goods. At least a handful of companies have not only proven that we can match an international-level quality of manufacturing, but also shown that we can win points for originality, functionality and aesthetics. The ‘Made in India’ tag is no longer hidden on the inner flap of the brands — it’s proudly displayed on the tag itself. Welcome to the Power of I.
In this special issue, Outlook Business features six companies that have created brands that stand out in the international arena. How did these brands succeed, what makes them stand out in a crowd and what can be learnt from the experience of these stars? Read our cover story on page 29 to find out.
We kick off this issue with the Chairman of ITC, YC Deveshwar, articulating the significance of long-term thinking and how this philosophy transformed the tobacco giant into more diversified company Apart from other regular stories, you will find the interview with Hemendra Kothari in our Talk Stock section an interesting read as he delves into the challenges facing the broking industry and what the future looks like.