Comments
India's most powerful corporate brands are poised to challenge corporate titans of the West. Topping the list is tech giant Infosys while salt-to-steel conglomerate Tata is ranked second.
According to a survey by London-based TLG, which published its first ever Index of Thought Leaders conducted in an emerging market, notes that Apple, despite being a global brand, has not been able to crack the Indian market.
“One of the most eye-catching results is the absence of Apple from the Top 20. The Californian tech group, which came top in TLG's most recent Thought Leaders' reports in Britain and the US, only managed 40th place in the India index. Commentators have blamed Apple's inability to crack India on its failure to adapt its business model to local tastes and budgets. Indian consumers can buy a new Tata Nano car for the same price as three Apple iPhones,” the survey said.
The 2011 BRIC Index was conducted by TLG in partnership with the international research consultancy GlobeScan. The respondents include Government ministers, directors of blue chip companies and newspaper editors. TLG defines thought leaders as those corporate brands with the power to change the attitudes and behaviours of consumers, employees or politicians.
While TLG's surveys of developed economies are dominated by the tech and consumer sectors, the Indian market places a higher value on manufacturing and civil engineering. India's biggest motor car maker, Maruti Suzuki, is ranked fourth while Larsen and Toubro, figth. The 10th ranked company is the Mahindra Group.
The Top 10 features two joint ventures between local and overseas companies. “It is a quintessentially Indian business model that dates back to Independence but remains equally relevant in the 21st century,” says the survey. The joint ventures are Maruti Suzuki and Hindustan Unilever (9th).
The Western firms that make the list have successfully adapted their business models to meet local needs. For example, Google, through its YouTube platform, streams live Indian Premier League cricket matches. Facebook (8th) offers mobile access for a special rate of one rupee a day.
Mr Oliver Martin, Research Director, GlobeScan, said: “As the public's faith in corporate leadership is declining in India, companies must excel in business innovation and progressive CSR to retain a Thought Leadership position.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.