Science & technology has strong relationship with marketing: Kapil Sibal
23 Aug '07
3 min read
Technology marketing should be based on cost effective evolution of the product and should reach greater part of the vibrant rural India, said Mr. Kapil Sibal, Minister of Science and Technology and Earth Sciences at The Marketing Summit 2007: “Rewriting Marketing for the 'New India', Managing Dreams, Realities, Needs and Wants” organized by Confederation of Indian Industry (CII).
'Out of the box' marketing solutions can provide benefits of progress to seep through all levels in the society, said the minister. He said that science and technology has a strong relationship with marketing. Mr. Sibal said, “Not only does India have to sell what it makes, but also make what it can sell. As the demographic dividend in India pays off in the next few years, the working age population will be able to fill global gaps and stabilize global demand”.
Mr. Sibal said that impressive achievements of Indian companies in the areas of information technology, business outsourcing, bio-medical research, manufacturing and services have helped change the perception of India as low-tech, agricultural dependent nation, to a technological, services and manufacturing powerhouse. The substantial increase in the budgetary allocation for the social sector reflects the Government's strong commitment to sustainable development in rural and urban areas, said the minister.
With a growing young population, the biggest challenge will be to provide an environment that encourages and rewards entrepreneurial abilities, said Mr. Sunil Bharti Mittal, President, CII. He said, "Entrepreneurship coul be India's differentiator in the new global economy”.
marketing@alchempro.com
