Our country portray kaleidoscope image decked up with vivid notions and cultures, traditions. India has always been a brand in annals of history. From Om to Naga sadhus and snake charmers”; from “Mother Teresa to Mahatma Gandhi”; from “Yoga to Ayurveda” ; from “Kamasutra to Taj Mahal”; from “Bollywood to Cricket”; from “Invention of zero to Boson created by J.C.Bose from “Bullock-carts to Mars Orbiter Mission country has pioneered in its efforts to make a brand in itself.
Between 1947 and upto late 1980’s, India branded itself through legacy from past which was intangible and spiritual. Indians are known for contributing “Zero” to the world and an agricultural based economy. By this time, geographically miniscule countries like South Korea, Singapore, Hong Kong, Thailand, (not to mention of Japan, France, England, Germany) rose rapidly on the world map of industrial production and developed themselves into rapidly economic growing country.
In 2004, it surprised many when India refused foreign aid for relief of Tsunami victims. But, it was a clear reflection of a strong nation which can sustain disaster of such big magnitude. The manner in which the citizens of India came up to raise fund and help Tsunami victims, it was a sign of resurgent Indian population which can withstand and solve all internal problems collectively. Since then, India has gone a long way ahead. Recently, PM Modi offered assistance to Afghanistan, Pakistan after earthquake.
The dramatic transformation of “Brand India” to a potent and relevant player in world economy happened by design or was it an accident? Answer is debatable. Propelled by reforms in 1990s and driven by threat of extinction, Indian industry tackling domestic hurdles emerged as a visible player in global market. Indian industry harnessed one major asset i.e. huge reservoir of technical manpower. Now, by the end of 2015, India is seventh largest in the world by nominal GDP and third largest by purchasing power parity.
With huge reservoir of English speaking technocrats, Indian advances in world scenario were anticipated. The phenomenon, which is heartening to visualize, is the growth in service and manufacturing sector, which eventually will make Indian economy one of the most powerful economy in the world. Increasing number of businessman are figuring in Forbes and Fortune 500 list. A record 90 Indians with a combined net worth of $295 billion, feature in Forbes Billionaires List 2015, of which 28 make their appearance for the first time.
India is now a very visible player in global market. Indian foray into Information Technology has made Indian software, the most demanded in the world. Indian BPO industry has rocked United States of America. The Indian presence in service industry is not isolated.
Indian manufacturing brands are gaining recognition around the globe. The dawn of new era is witnessing Indian companies taking over and acquiring their foreign counterparts. Tata Tea acquired Tetley (2000); Daewoo was acquired by Tata Motors (2003); Wipro had five acquisitions in 2006, namely Quantech Global services, NewLogic, mPower, cMango; Tata Steels bought Corus for US$12.1 billion, a company five times bigger than itself (2007); HCL acquired UK based enterprise solution provider Axon (2008); Tata Motor’s acquired prestigious British Jaguar and Land Rover auto brands (2008); Bajaj is now exporting to more than 20 countries. There are numerous successful examples of Indian companies making a mark in global business.
Looking into future is always an exercise that one approaches with uncertainty and anxiety. Present trends and rapid rate of development are reasons to postulate India’s imminent arrival as a developed nation and economic super power. Events of last three decades have shifted economic initiatives from wealth distribution to wealth creation. And, it does not take half a century to become wealthier; Rise of Japan and growth of China are examples of economies in front of our eyes, which have grown in short span of time. Therefore, India too can look towards the future with optimism. And yes, India is the only nation in the world to have successfully reached the Red Planet (Mars) in its first attempt; this proves that the nation is competent to achieve new heights.
Even the critics of capitalism would understand that burgeoning economy and growing business will create more jobs and nation’s wealth, which can be further utilized in multidimensional development of nation.
India has to go a long way ahead. The nation has to develop infra-structural facilities matching international standards and benchmark to best economics of the world. India must realize that it is land of young people, reservoir of food, a sea of scientific and technical resources. With PM Modi’s aggressive push to “Make in India” and if Indian Inc. continues to put effort in right direction, we shall definitely realize our dream to fit into parameters of a developed nation by 2025.
