Following the appeal of Prime Minister Narendra Modi to become ‘Vocal for Local’ in buying indigenous products, there is a renewed vigor for local brands in indigenous companies. In view of the increasing demand for local products, several companies have also planned to expand from the next financial year. At the same time, it is hoped that after the lockdown is over, the condition of their companies will recover rapidly.
Companies in the mobile handset, tea, soap, auto and FMCG sectors are thinking afresh about their business and have started making their plans accordingly. This is not only happening in the country but also in America.
Supporting domestic companies will revive the economy
In this connection, Ramdev, the lord of Patanjali Ayurved, says that Patanjali is committed to play a role ranging from edible oils to food products and FMCG up to one lakh crore rupees. According to him, it is expected to provide employment to 10 to 20 crore people.
At the same time, Rahul Gyanchandani, Joint MD of RSPL, a watch detergent company, says that the country’s economy will revive only when we support domestic companies. We have 20 plants, consumption is continuously increasing. If needed, we will set up another plant.
Many companies also planned branding
Here, many companies have also planned their branding. Parag Desai, executive director of Tiger Goat Tea Group, said that our tea is sold in 40 countries. We will further promote how we progress even after being a local company. After the Prime Minister’s appeal, it is expected that the demand for our product will also increase.
Stock tea is being sold right now, but to meet the growing demand, we will set up a new plant after one year. At the same time, a senior official of a big auto mobile company said that after the PM’s appeal and labor reforms as well as other decisions have landed, Indian companies will not only help them to grow but they will also become global.
40% of Americans said they do not want products made from China
Here, according to a recent Bloomberg survey report, 40% of Americans said they do not want products made from China while 22% of Americans refuse to buy products made in India in the future. In such a situation, Indians can also come forward to buy indigenous products.
Competition will be given only by giving product and service world class
Hariom Rai, chairman and MD of Lava International, the world’s fifth-largest feature phone maker, says that any country that has grown up has grown only because their company has grown. Companies will have to make their product and service world class, only then we will be able to compete with multi national companies.
If there is a slight difference of 19-20, then people will prefer only local product, but the difference will be 17-25, then even after being local, the product will not be sold. After the new policy comes, we are shifting the entire product from China and also doing the design and construction work including R&D center in India itself.