India 2015: OVERVIEW | Our Insights | GOING GLOBAL
Successful exporters leave enormous potential at home
Research Associate Millward Brown
It has been a rising trend for Indian brands to expand abroad because it yields a higher return on investment than saturating the diverse and geographically dispersed Indian market.
Moreover, Indian brands often have an upper hand in developing nations because they face mostly local competition. Micromax has smartly entered Africa and Russia and in the process become India’s leading smart phone brand.
Godrej entered Pakistan with its Good Knight brand when category penetration for mosquito repellents even in urban India is relatively low and potential for sales gains is high. Marico’s introduction of its Parachute Hair Oil in Egypt, Bangladesh, South Africa and Vietnam is another example of how valuable Indian brands build international presence even when there’s plenty of growth left at home.
As the Indian middle class rapidly expands and demand for products increases, the challenge for these successful Indian exporters will be gearing up to serve all their potential customers, both at home and abroad.