Martin Sorrell, founder of WPP plc, the world's largest advertising and PR group has said that India's brand image is at an all-time high. Speaking to WION's principal diplomatic correspondent Sidhant Sibal in Riyadh, Sorrell expressed confidence in the Indian economy adding that any fall in the growth is just a "fluctuation". Here's the trasncript of the interview.
WION: How do you see India's role in the world?
Sorrell: Growing. India's role in the world is developing, PM Modi has been at the FII. He has made his impact during his first term, he will make an impact in his second term, so I have been always being a raging bull in India and will continue to do so. My company, where I was, made a huge position in India, about 50 per cent of the ad industry, about 15000-16,000 people, have a very strong business. I have started a new business - S4 Capital- and will be doing something in India and have a tour in India with Google in November end and I have mentioned this because it is emblematic of what is happening in India, tremendous growth domestically.
WION: But reports suggest the Indian economy is not doing well, your thoughts?
Sorrell: It is never going to go up in a straight line, it will be a secular growth and there will be fluctuations in terms of the growth rate. In the long term, India will be the most populous country of the planet, with that comes issues, but if I look at the British point of view, Brexit, if we do come out, we have to pivot away from the EU on which we are dependent for trade to markets such as the US and Asia - China and India are two massive economies in Asia. It can't be a straight line upwards. It remains extremely bullish.
WION: How do you see the leadership of the Indian PM?
Sorrell: I think the brand image of India has strengthened considerably in the last 4-6 years, it has been mainly due to PM Modi and what he has done and what he will do. Obviously, everybody faces criticism, it will not be positive all the time. Like the growth rate, there will be fluctuations but the brand image of India is at an all-time high.
Sorrell expressed confidence in the Indian economy adding that any fall in the growth is just a 'fluctuation'.