“In his last address to the nation, PM Narendra Modi had made a clarion call to support local brands. During this time of crisis it has made us realize the importance of local traders who have helped the country sustain during this long period of Lockdown due to the Coronavirus”, he said.
As per many Experts despite the PM’s call, India will remain an open market and homegrown brands are not going to get any preferential treatment from the government. They have to win the consumer on the back of quality, innovation, pricing, and the right marketing mix.
We at MediaNews4u have spoken to people from various sectors, startups, and brand consultants to understand as to what how they have interpreted the term ‘Be Vocal for Local’.
When it comes to the broadcast business be it TV or Radio we have more or less been homegrown entities’. Today we speak to Rahul Namjoshi – COO, MY FM, and the most popular Radio Station as part of the DB Corp Ltd was launched in 2006. My FM has built an emotional connection with its listeners by focusing on its brand philosophy ‘Jiyo Dil Se’ and curating content to suit individual and local tastes.
How do you interpret the term ‘go vocal for local’?
The interpretation is as direct as it can get- Encourage local produce and try and put a full stop on whatever final product is imported. Local produce also includes MNCs which have bases in India and produce the final product which the local economy has a market for.
The difference between Local & Swadeshi?
The difference is similar to a GDP vs a GNP figure. Local means a bundle of goods produced locally by any owner, local or MNC, with the primary intent of having a local consumer market. Swadeshi on the other hand, is something which is made in India, having all the verticals of the supply chain belonging to India, with an intention to sell in local consumer markets, but also with an intention of purely exporting the product outside the local boundaries.
How will companies which may be global but have been in India, produce here and employ locals will consumers now stop buying these products?
No. This will never be the case. The MNCs add up to huge parts of our GDPs and have been functioning here because of our consumer market. More than a threat, I think they have been an integral part of our economy.
Are you seeing a spurt in buying of ‘Swadeshi’ brands?
The trend started with the ‘Make in India’ initiative. Brands like Patanjali have already made that happen. The amount of investments on Indian startups and their wide acceptance by consumers speaks out loud about the trend.
