India knocks china in business growth potential graph

In a study compiled by Edelman, 44 per cent favored India’s business growth as compared to China’s 36 per cent votes

When it comes to the East Asian region, China, and India’s power struggles has always taken a forefront. While China is credited to be world’s largest emerging economy, India has been capable of gaining favorable image amongst its counterparts. According to a report, India’s corporate sector has been successful in building an impactful world image.

According to a study conducted by Edelman Trust Barometer, India needs to increase its engagement on a global level through acquisitions or mergers, entering foreign markets, it has managed to build trust for its trade practices and its operations.

44 per cent favored Indian business as compared to China’s 36 per cent votes, said 2018 Edelman Trust Barometer, compiled by Edelman, a leading global communications marketing firm. As per the study report, people between 8-34 years of age who believed that Indian companies are upgrading their performance, accounted for 50 per cent. 35-54 year olds that were in favor with the opinion were placed at 47 per cent. The older section of the population (55 years and above) showed an unfavorable response towards Indian companies.

According to the report, India needs to engross itself with international trade practices. A need for a ‘hero brand’ image will help raise its awareness in the market. “To do so, Indian CEOs must elevate their company, brand, even their personal profile in the public discourse beyond more traditional business indices. There is a clear opportunity and need for India Inc. to grow its stature on the world stage,” report highlighted.

India’s Trade Deficit

India’s industrial presence has put it on “trade deficit” with trade countries. It is suggestive of the fact that India’s competency oversees is viewed on two factors – its industrial prowess across sectors, and global market’s perception of what fundamentals Indian brands stand for.

Internationally, Indian business is challenged by low customer engagement of the products and service produces that are originated from India. The Trust Barometer survey suggests that there are three key steps that businesses can take to increase the awareness.

1. Employee investment
2. Investment in high-end as well as diverse brands
3. Creating a favorable perception amongst young and affluent people

These are some of the discrete measures India can take to help grasp its hold in the international market.