As Indians we have an unhealthy attraction to the word ‘imported’. If a seller can convince us that the stuff he is selling is made overseas, we buy it – irrespective of whether we need it, whether the quality matches the price, and even if it’s just a makeshift stall that we are buying from. And this is not something peculiar to the present generation, in fact, it is a trait that has been handed down to us.
This fascination for all things foreign has finally come back to haunt us today. Our lack of faith in products made in India has given the Indian manufacturing industry a tainted image. Even management graduates are reluctant to join this sector. In the last one year the industry has grown marginally, from 6.9 percent to 7 percent. For the local IT industry, the story is even worse.
Despite various attempts to better the technology and the looks, Indian IT products do not have the same degree of acceptance that MNC products do. When it comes to technology, Indians definitely do not trust their own. On the other hand, China has managed to build huge companies by just catering to its domestic market. By getting the pricing and technology ratio right, these companies have now gone global, giving the home country a foothold in the world market.
Unfortunately, India has no such success stories, despite having the highest growth rate in the region. Barring a few, most Indian IT brands do not even have a national presence. The irony is that when most overseas manufacturers say that India is a destination they cannot afford to ignore, local IT manufacturers are finding it difficult to find profitable growth avenues.
The need is to get more India-focused internally. Indigenous products should be given the same attention as foreign brands. It’s not an either/or situation, both brands can compete fairly. We just need to give the Indian brand a chance to prove itself.