In his first major move to boost India’s brand image, Prime Minister Narendra Modi has unveiled a range of initiatives that will help the country build an image of itself as a consumer-focused economy, including introducing a brand of clothing and home goods made by the likes of hanks, hooch and a new food product.
The announcement came just hours after a senior official of India’s food and consumer affairs ministry said the Prime Minister had instructed the Prime Ministry to promote India’s brands as the country’s largest consumer and economy.
The new government will focus on the development of its national brand to be the biggest and most valuable in the world, the statement said.
The announcement comes at a time when the Prime Minster is trying to attract international investors to help revive the economy, which has been hit by a prolonged downturn in global trade and an aging population.
Modi also announced the establishment of a brand-building institute at the World Economic Forum in Davos, Switzerland, to promote global brands and brands that are locally sourced.
India is the second-largest consumer market in the industrialized world behind the United States.
India is the world’s biggest exporter of hoochy and hanks products, and it is one of the largest importers of the hoo-choo products used to make the products used in the hank-choy recipes.
Modis announcement comes as the economy has been battered by a series of financial crises.
India is currently facing an economic slowdown as a result of a slump in global demand for its products.
“The Prime Minister has asked the government to focus on strengthening India’s image as a nation of aspirational consumers,” an official statement said, referring to Modi.