From being known as the land of snake charmers to getting established as a powerhouse in services - software, medical, business processing, etc; India has come a long way in the last two decades. We are today a leader in providing low cost, high capacity services servicing needs to most of the developed world. A typical example is the software industry. In the last 25 years, multinational giants from across the globe have seen India as the most preferred choice crown jewel in addressing their services requirements and India has met them successfully with all its talent, entrepreneurial zeal and lack of governmental interference. However, is that enough?
While India’s role as a global services hub is great and essential, India has never been considered a place from where high end technology could originate. Whenever the need for technology and related innovation arises, the world looks at the United States, Japan, Israel etc among others. I believe the Indian ecosystem is far more powerful and can deliver much greater value.
I believe the true testament of our potential can be realized by creating technology in India and leading it in the world at large. That is where I see Brand India being redefined and repositioned globally to the world. Brand India in the 21st century should be about world class, high end, robust (and highly profitable!!!) technology products being conceptualized, built and used in India and exported worldwide.
Today at Aspiring Minds, we are working feverously on readying our highly successful assessment technology to be exported to a global audience. The differentiator is not the typical “low cost me too” product but a highly sophisticated, differentiated product competing with global providers. In order to be at the cutting edge of technology, we leave no stone unturned, be it engaging researchers globally or publishing patents and publications in leading conferences. Our technology which has been designed and developed and perfected in India is not only being exported to all developing nations in Africa, Southeast Asia, Middle East but also to developed geographies such as the US, UK, etc.
This frameshift in Brand India from services to product also brings along its financial upside with three to four times the margin. Historically product and technology innovation is lead by companies who have built their original fortunes with successful products. While there is strong bearing on the talent and organizational DNA, it cannot be denied that the high profit margins eventually get redeployed in creating more scintillating technology!
The Prime Minister's Make In India campaign comes as a shot in the arm for all of us to venture beyond the traditional and aim to not only Make in India but also to distribute, deploy globally; thereby rebranding India for the world.