- Where are indigenous companies compared to multinational companies
- Our products lag behind in branding in the world market, it has to be increased: NITI Aayog
Dharmendra Singh Bhadoria
May 17, 2020, 06:16 AM IST
Mumbai. Prime Minister Narendra Modi has emphasized on a self-reliant India. Bhaskar recognized the status of indigenous companies in 6 major sectors related to the work of the common man. While Indian companies are ahead in sectors such as Telecom and FMCG, multinational companies dominate the mobile handset and consumer durables sector.
On this situation, Professor Ram Singh of Delhi School of Economics says that self-sufficient India is possible. If we leave out petroleum products, tech companies like Google, Facebook etc. then we can become self-sufficient. Countries like Japan, Germany also depend on foreign platforms in terms of social media platforms.
NITI Aayog vice-chairman Rajiv Kumar says that in the global market, our products are still lagging behind in terms of branding. Small and medium industries of our country can also come on the global board, hence their business limit has been increased to 100 crores rupees. Self-sufficiency does not mean that we are against foreign capital investment or MNCs.
'Indigenous brand or production should be encouraged'
At the same time, Ankur Bisen, senior vice president of Technopak Consulting, a company that advises e-commerce companies, says that multi-national companies take dividends and royalties abroad, but not more than 10-15 per cent, compared to domestic companies. In such a situation, indigenous brands or production should be encouraged, but we also have to accept the fact that foreign companies are far ahead in business in the field of mobile manufacturing or consumer durables.
Source: The figures are according to the declared results and experts of Invest India, Technopak, India Brand Equity Foundation, SIAM, COAI, TRAI, various companies.