New Delhi: India offers as good an opportunity as China to investors and has the potential to be at par with its Asian neighbour, according to WPP Plc Chief Executive Martin Sorrell.
He said India’s brand value has seen a positive surge in the last few years, giving a boost to investor confidence.
“You do not choose between the two (India and China)… if (I) had a billion, I would put 500 million in China and 500 million in India… the reason is that I would put my bet in the growth areas,” Sorrell said.
As long as India continues to grow at a greater pace compared to other economies, multinationals will continue to invest significantly in the country, he said.
“…India does not have the stature yet of China, but it will be,” Sorrell said.
According to him, India as a brand has become stronger in the last few years.
“…We do track brand India along with other countries quite consistently… Brand India in my view has improved significantly over the last two or three years,” he said.
Sorrell said India’s claim as the fastest growing democracy is is justifiable and that is good positioning.
Citing the difference between the two countries he said, “India is different from China in many ways and one way is in exports and trade. You (India) do not play a great role. India is about domestic consumption.”
He, however, said both countries are witnessing changes in their respective economies.
“India is not only a service-based economy, it is both service and manufacturing based…,” he said.
Similarly, China is also becoming both manufacturing and service based economy from a predominantly manufacturing one.
“So both countries are flipping in that sense to the other side of the equation,” Sorrell added.
Commenting on the ongoing anti-corruption stir in India, he said it could impact the structure of government in the long term, yet it would not deter MNCs from investing here as long as the country’s economy continues to grow fast.
“Does corruption stop FDI? No. It does not stop it in Russia, It does not stop it in China… it does not stop it in Brazil, if the growth rate is fast,” he added.
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