Facing severe weather with constant snow that has not been seen in more than a decade, the alpine village of Davos greeted delegates rather harshly. Snow banks along the roads were more than 7 feet high as snow ploughs worked strenuously to keep the roads clear.
Slightly wet snow fell incessantly and held up traffic with delegates being delayed by 2-3 hours. In a rare situation, the World Economic Forum delayed the opening ceremony by half hour. Usually, the programme runs like a Swiss watch with no slip-ups in timing.
Amid the white snow banks and wet streets, the colour was infused by India’s aggressive promotion for investors. Giant billboards featuring Prime Minister Narendra Modi welcomed delegates to Davos. This is the first time a billboard featuring an Indian PM have been set up at Davos. Clearly, brand India is led from the front by Mr Modi. He met investors over dinner for a frank conversation on where India has delivered and how it is working on removing hurdles for investors.
India hosted the opening reception with strong display of its cuisine and culture. The catering staff were dressed in safas and colourful, traditional sleeveless jackets. A large screen at the Congress Hall ran statistics about India’s economic might. The entire branding and imaging is being managed by Invest India, the national Investment Promotion and Facilitation Agency of India which is the first point of contact for foreign investors. Invest India has been set up as a non-profit agency.
This is a significant shift in the approach of India. In 2006, India made its mark by a global campaign to position itself as the “world’s fastest growing free market economy”. Since then India’s positioning has changed. The previous campaigns were created and run by India Brand Equity Foundation jointly run by the government and industry bodies. India’s brand been well established, the focus is now on generating and engaging with foreign investors. In the new approach, the government is focusing on specifics and numbers. Invest India has identified key sectors and regions for investment promotion. From general branding, India has sensibly moved to practical and operational steps.
The underlying theme of India’s strategy is more confident and action oriented now. At Davos, investors will realise what the billboards with Mr Modi promise, “India Means Business.”
