Financial Daily from THE HINDU group of publications
Saturday, Nov 12, 2005
Financial Daily from THE HINDU group of publications Saturday, Nov 12, 2005 |
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Marketing
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Events `Business prospects in India extremely bright' Our Bureau
Mr Michael Birkin, Vice-Chairman, Omnicom, addressing a Diamond Jubilee of Advertising Agencies Association Of India (AAAI) in Mumbai. — Shashi Ashiwal
Mumbai , Nov. 11 WITH a GDP growth that is a little less than eight per cent, exports having more than doubled and Foreign Direct Investment (FDI) in the region of $5.5 billion, business prospects in India, according to Mr Michael Birkin, Vice-Chairman, Omnicom, are extremely bright. However, the need of the hour, he said, was to improve the state of infrastructure in order to attract and sustain good talent. Mr Birkin, who addressed the diamond jubilee symposium of the Advertising Agencies Association of India, urged the industry to put pressure to improve logistics and infrastructure. "It is important to create an environment in the major markets such as Mumbai and Delhi for the talent to thrive." He emphasised the need for city branding, just as Shanghai has done or even develop branded clusters. He also stressed the need to protect intellectual property. "This is a critical problem faced by most nations and we have to be rigorous about it. If we are looking at FDI, we have to protect what the brands have." Mr Birkin, who spoke about the future of the advertising industry, said that the biggest challenge was to get the right talent, especially in the creative field. "We need the right people and the right framework to create and execute ideas." He said that Omnicom's focus in India would be on getting the right talent. "We have to be creative about the kind of people we recruit. We have to try to bring in people from different fields." He said the future to a great extent would depend on the recruitment policies of the agencies, training methods and retaining talent. He said that Omnicom in India would play the role of a holding company that supports its talent and not controls talent. Mr Birkin said that the areas which the Indian advertising industry should focus on customer relationship management and Internet and digital marketing.
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