The association now establishes a community to elevate Indian products and services.
In a bid to promote new age Indian brands across segments such as food, consumer durables, electronics, fashion, FMCG, etc., IAMAI has set up a founders’ community of direct to consumer Indian brands. The unifying features of these brands are that they are digital-first, innovative, competitive, and manufacture or produce in India.
At present there are at least 100 odd such brands in the market and more are emerging every day. These brands are innovative since they cater to a younger and often first-time shopper catering to a niche demand. They are competitive as they have to compete for mindshare and shelf space with large incumbents with deep pockets. They are digital-first catering to the internet using socio-economic segments and taking advantage of the digital infrastructure that has been created in India. Finally, they invariably manufacture or produce goods in India.
The industry at present running with the “founders’ fuel” needs a collective identity to help it charter through complicated government policies and regulations; buy-in from stakeholders such as e-commerce platforms, logistics and payments industry; and also earn lasting customer trust. IAMAI is best suited to execute this three-pronged strategy.
With the help of 35 such brands, it is a small beginning of organizing this potentially powerful business segment by formalizing a committee. The committee is chaired by Aman Gupta, co-founder and CMO of boAt audio and co-chaired by Manish Chowdhary, co-founder of WOW Skin Science.
“India is at a cusp of a new brand revolution. With people, especially the ‘millennial’ and the ‘Generation Z’, consumption has shifted to digital, and the time is ripe for home-grown brands to leverage this opportunity and create consumer journeys online. The consumers now prefer Indian brands to global more than ever. The established committee will bring the ecosystem together, indulge in knowledge creation and put forth best practises and run training programs for members in a mission to build internet driven iconic brands.” Said Aman Gupta, Chairman of the committee.
Co-chairman, Manish Chowdhary said that the committee will jointly look towards building the consumers’ trust by engaging in better customer communication and other similar initiatives by D2C entities.