New rupee symbol: Consolidating the might of Brand India

New rupee symbol: Consolidating the might of Brand India

Author | Nitin Pandey | Monday, Jul 26,2010 8:12 AM

New rupee symbol: Consolidating the might of Brand India

Much has been written about the new rupee symbol and the design. While it gives an identity to the Indian currency at the global stage, the new rupee symbol also highlights the might of the Indian economy. With this, the Indian ‘Rupiya’ has joined the exclusive club of international currencies – the US dollar, the British pound sterling, the Japanese yen and the Euro – with their own symbols. The new symbol is a blend of the Devanagari ‘Ra’ and Roman ‘R’.

exchange4media spoke to a cross-section of the industry to get their views on what the new rupee symbol means to them.

According to Ashutosh, Editor, IBN7, “It shows the confidence in the Indian economy at the world level. It is the most opportune time that we should have a symbol of the rupee. However, this move is more of a symbolism, but it does show the might of the Indian economy.”

On the other hand, Preity Zinta, actress and co-owner of Punjab KingsXI, felt that the symbol of the rupee had come very late in the day. She said, “Brand India is already up there at the world level, and this symbol will definitely enhance India’s impact globally. The rupee is involved in every business in India and now, it will get global recognition as well.”

The new rupee symbol has been much talked about at the international arena too. Andrew Marantz, a columnist with Huffington Post, noted, “I think it’s a great branding move for a major world currency to have its own symbol. I like the look of it very much, and I think it’s fully appropriate to combine the Devanagari and Roman letters in an accessible and aesthetically appealing way.”

Sameer Ahluwalia, Editor, Zee Business, was of the opinion that the new symbol epitomised the new global India and denoted India’s economic power and India as a decision maker on the world stage. “Kudos to the Government to get the rupee symbol up and running so fast. Russia has been toying for a decade to get a new symbol and is yet to take a decision,” he added.

Ahluwalia further said that the Unique Identification Authority of India (UIDAI), with Nandan Nilekani at the helm, was an example of how the Government was getting the world’s best talent to work for it on a project that would redefine the way Indians lived.

SK Singh, Editor, Zee News, felt, “At a time when India has shown the world its might during economic recession, this symbol will represent a new brand India. We hope that in coming years, the rupee will be equivalent to the US dollar.”

The new rupee symbol has been designed by D Udaya Kumar. a post-graduate from IIT Mumbai, and approved by the Union Cabinet. Kumar’s design was selected from amongst 3,000 entries received in a public competition. The entries were evaluated by a jury headed by the RBI Deputy Governor.

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