With Modi Sarkar’s completion of one year on May 26th Joseph George, Chief Executive Officer,Lowe Lintas & Partners, India shares his views on the government’s completion of one year. George appreciates the government’s attempt towards bringing in more accountability, simplicity and transparency in governance and he sees it as a government that is trying to put in place an “enabling eco system”. George places his bets on "Make in India" becoming one of modern India's biggest ideas.
One Year gone by; Expectations met?
The new government came to power on the back of a single minded but very loaded proposition. Given that, it had no choice but to do everything in its power from day 1 to put in a plan and deliver on it.
The free fall in crude prices saved the government from having to be distracted 24X7 on managing inflation, and the massive mandate gave them the political guts to think long term. So, they were smart to begin with trying to bring in more accountability, simplicity and transparency in governance and be seen as a government that is trying to put in place an “enabling eco system”. They were also pragmatic enough to do an audit of all initiatives taken by the previous government to figure out which of them to carry forward, hasten or course correct in their execution and delivery.
From a business perspective, while real difference in the economy is yet to be seen, a positive sentiment, perceived stability and purpose of intent has seen more and newer entrepreneurs and corporations of all shapes and sizes having the confidence to invest in new products and services. Most categories for the past few years have been playing an inert zero sum game focusing on market share instead of market development. This has dampened our innovative spirit and slowed growth and consumption in new areas. Which is why "Make in India" could well be one of modern India's biggest ideas. Conceptually, though being manufacturing based, this idea has a wider and far reaching remit when interpreted in its fullness.
I am also hopeful that as the government exhibits more clarity, consistency and consensus in its various policies going forward, more organizations will feel confident to go back to at least medium term planning if not long term planning.
Among other things, this has a direct implication on how a company plans out resource utilisation.
The Power of brand Modi Sarkar …… sustainable; but for how long?
The brand of Modi Sarkar is today stronger than the product. But like we know in marketing, a strong brand keeps consumers interested and engaged; and also more forgiving of the product.
And a marketing savvy government such as the present one, knows this only too well that this is unsustainable beyond a point in time.
Net net I believe:
Hope is the strongest tailwind favouring this government today.
And Impatience, the strongest headwind.