MAKE IN INDIA
The diaspora has an important role to play in helping Indian companies make a “solid global impact” and make sure the country has a current account surplus, a famous US-based marketing guru has said.
“The Indian diaspora are extremely influential entities in the US and the UK,” Jan-Benedict E.M. Steenkamp, professor of marketing at Kenan-Flagler Business School, said on the sidelines of the 13th Brand Conclave organised by Confederation of Indian Industries.
According to him, the diaspora can lead in promoting Indian brands globally and the right global approach will not only help Indian companies reap higher profits but will also help them raise their global brand power.
“It is crucial because India is transitioning from a developing economy into an emerging one. It’s high time Indian companies started investing enough time, energy and money in brand building across the world”, he added.
Right branding and right value proposition is needed for Indian firms for correct positioning in the global stage, he said.
“No matter how big the size of the Indian economy is and how much potential it has, the fact of the matter is that 90 percent money in the world is outside of India. That’s where the problem lies. Unless much of this comes to India, the country will not be able to become an influential player on world stage,” Steenkamp said.
The professor has authored over 150 scholarly publications and four books. He is also the winner of the Muller Lifetime Prize from the Royal Netherlands Academy of Sciences for exceptional achievements in the area of the behavioral and social sciences.