A recent article in the Economic Times quotes Unilever’s chief executive Paul Polman, saying, “Indian Innovations relevant in Europe now”.
On the same page in a separate article, I read about PepsiCo losing market share to local players such as Haldiram, Balaji Namkeen and ITC who are not only upping volumes like Pepsico but also expanding their Indian brands to western markets.
India, which once looked to the west for new inventions in any sector is now causing sleepless nights for those very same companies. Globalisation coupled with recession in the developed world have turned the tables for emerging economies in the area of innovation. The Indian models of ‘smaller size packs’ or sachets to try products is gaining traction in the West where recession is forcing people to spend less. This model allows them to stay with their preferred brand at a more affordable price point.