How Indian homegrown brands are beating the global behemoths at their own game | The Financial Express

How Indian homegrown brands are beating the global behemoths at their own game

Being a homegrown brand helps to understand the needs and expectations of the Indian consumer, and this is a journey that begins even before products are launched in the market.

How Indian homegrown brands are beating the global behemoths at their own game
There has been a gradual shift in this trend as homegrown brands expand and build their own niche.

– By Amar Tulsiyan

The Indian market has been attracting the biggest global brands in the last three decades. Post-liberalization, in the early 1990s, International companies dominated the Indian market and the trend continued as we entered the 21st century. However, there has been a gradual shift in this trend as homegrown brands expand and build their own niche, often giving tough competition to international behemoths. While there are several reasons for this, one of the biggest advantages that homegrown brands have is the understanding they possess of the local market and the expectations of the consumers. While all organizations, Indian or international, do market research to understand consumers, I would strongly argue that the interpretation of such research comes easily to Indian brands. 

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Indians are unique in myriad ways, and this makes the Indian market distinct, many times with regional nuances making the difference between beating the market or getting beaten by it. Being a homegrown brand helps to understand the needs and expectations of the Indian consumer, and this is a journey that begins even before products are launched in the market. While many entered this category, most have been unable to make a significant mark in the personal hygiene space in which two global giants dominate. Whether it is the cultural diversity or social norms, having innate sensitivity helps homegrown brands penetrate metros as well as hinterland markets faster and better. Tier-II and tier-III markets are more difficult to grasp as India changes every few kilometers, and it is here that the biggest growth is predicted for the FMCG segment over the current decade. 

A great product at a great price is an important factor for success, but that alone is not enough. Another aspect, one that glues the product+price winning combination, is hyper-localized communication. Also, the importance of how one chooses the business segment to enter cannot be understated. It will be pertinent to add that there are several schemes that the government has introduced to support local manufacturing, which give homegrown brands an added edge. Whether it be the Make in India program, or the PLI scheme, these have also made Indian brands more competitive in the market. To sum it up in a few words, I foresee that this decade will be of Indian entrepreneurs and Indian businesses making a mark across sectors, helping make India more self-sufficient and Atmanirbhar.

(Amar Tulsiyan is the founder of Niine Personal Hygiene)

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First published on: 03-11-2022 at 12:51:37 pm
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