The growing middle and upper middle class of Indian population are fuelling broadbase growth in the country and 15 key sectors are creating opportunities in the domestic market, said Rajiv Aggarwal, partner of KPMG.
He was talking at the inauguration of 'PRAYAAG' 06' the 3-day management conclave at Nirma Institute of Management.
"There are over 5 crore people employed in the organised sector, half of which is in private sector. There is complete shift in the paradigm - from buying product to buying service which should form the basis for all business decisions and strategies," said Aggarwal.
"Forty-four per cent of Top 100 Fortune 500 companies are present in India. India's huge labour surplus will create largest supplies in the world. Unlike China, which largely depends on exports, India has both domestic consumption and export potentials" Aggarwal added.
He said lack of long-term vision as the biggest roadblock to India's progress.
Deepak Taunk, Executive Director, GNFC Ltd, while elaborating on 'Contemporary Issues in Finance' took up cases of successful entrepreneurs like Karsanbhai Patel, Capt Gopinath and L N Mittal to showcase how passion and perseverance can go a long way towards building a successful business. He took up issues related to mergers and acquisitions and elucidated on them in detail.
Speaking on 'Brand Expressions: The India way' Rajeev Bagayatkar Associate Director, ACNielsen ORG-Marg gave a novel definition to brand value as the extra value we pay over the realistic value of a product. He also emphasised on the need for the brand proposition to be both qualitative and relevant.
To build on this one needs to focus on the quality of awareness of the product. He also took up Rasna as a case for successful branding strategy.
Parminder Gill, head of marketing, GCI Solutions, defined branding as standing for something and communicating that. Then he elucidated on the branding exercises conducted by GCI and also about 'Project Pride'.
He also gave a corporate presentation of GCI and a general overview of the IT business environment.
