'Innovation and a localised approach is helping Indian brands go global'

Indian brands are wooing global consumers by leveraging innovative strategies and localised approaches to venture into new markets, was the consensus among a group of top industry leaders at a panel discussion in the Mint India Investment Summit 2024.

At a panel discussion titled 'Rise of domestic MNC brands', the C-suite leaders shared deep insights into the burgeoning success of domestic companies venturing beyond India's borders.

For instance, Bharat Puri, managing director of Pidilite Industries, talked about the company's "emerging markets multinational" strategy, while highlighting India Inc.'s capability to deliver world-class products. He said, "We aim to perfect our model in India and replicate it in India-like markets". Fevicol, the company's flagship brand, is now available in over 80 countries.

Chipping into the conversation was Rajesh Jejurikar, Executive director & CEO (Auto and Farm sector), Mahindra & Mahindra Ltd, who emphasized the importance of localization when taking a product global. "We cater to American farmers as 'hobby farmers,' tailoring our products and marketing to local preferences," he explained. Citing M&M's success in North and Latin America, he said that it reflects the company's ability to connect with diverse audiences globally.

Further, Saugata Gupta, MD & CEO of Marico, credited the proliferation of e-commerce platforms for boosting the acceptance of Indian brands internationally. "Indian brands are far more acceptable today than they were 15 to 20 years ago, thanks to platforms like Amazon," he said. Marico's presence in emerging markets across Asia and Africa underscores the growing appeal of Indian products globally, he added.

With a focus on organic growth and strategic acquisitions, Indian brands are carving out a niche for themselves in competitive markets. As Bharat Puri of Pidilite Industries, noted, "In places like Africa, we have to build organically, competing against exports from China or Turkey."

This resilience and adaptability positions Indian brands as formidable contenders in the global marketplace, signaling a new era of economic influence emanating from the Indian sub-continent, was the final consensus among the panellists.