Modi extols the power of packaging

May 18, 2015 by ipamapp

If you thought we are the only one crying hoarse about the importance of packaging, even at the micro level, rest assured, we are not alone.

Even Prime Minister Narendra Modi has come to recognise the important of packaging, branding and advertising, especially for small enterprises, so that they can grow in their businesses.

Modi extolled the importance of brand value while launching the Pradhan Mantri MUDRA Yojana in New Delhi recently. “Brand building, advertising and financial support to small entrepreneurs will strengthen the foundation of Indian economy,” he said.

He said a mango grower can add value to his product at local level by making pickles and can also do wonders by packaging it well. “If he sells mango, he gets a little money. If he makes pickles, he makes more money. And if that pickle is packed in a nice bottle, he gets much more. If he puts the bottle in the hands of a girl for advertisement, he will get still more money,” he said.

With changing times, he said, “one needs to take advantage of branding and advertisement in promoting products. We want to strengthen them. If they get empowered, it would help in raising GDP.”

Modi also sought to dispelling the perception that large business groups are high-employment generator by observing that they occupy large media space but provide much less jobs than small businesses. While large business houses provide employment to only 1.25 crore persons, the 5.75 crore small entrepreneurs employ as many as 12 crore persons, he said.

The small enterprises with an average loan size of Rs 17,000 use only Rs 11 lakh crore funds, he said, adding, “Helping them would push the country’s GDP… We need to increase employment opportunities in the nation.”

The MUDRA Bank, the legal structure of which will be put in place within a year, will provide loans ranging from Rs 50,000 to Rs 10 lakh to small businesses.

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