India PR Diary

The evolving drama around the 2G spectrum scam and the ever increasing scams that are erupting everyday vindicate Transparency International’s report labeling India as one of the most corrupt countries in the world. Our peer group of most corrupt countries includes Liberia, Uganda, Nigeria, Sierra Leone, Senegal and Cambodia. Interestingly, no other SAARC country figures in the top 10 of this list.

Ironically, India is also a country which is considered philosophically and spiritually the most advanced.

Indian people are also known for their tolerance. This tolerance is extended to accepting corruption as a way of life. Transparency International states that 54% of Indians surveyed had paid a bribe in the last 12 months. Those with some understanding of research and India may smile at the figure of 54% – it sounds like an understatement.

The media reportage and the debates also point out one sad aspect – there is hardly an institution that an Indian citizen can today look up to. All the four estates seem to be embroiled in corruption and controversy.

Posted in: Industry news, Insight, Perspectives
Tags: 2g scam, 2g spectrum, bribe, Controversy, corruption, India, indian citizen, Media, media reports, saarc, telecom scam, Transparency International report

Last week, our firm launched a new service product IPO Nurture™ , a unique offering aimed at companies planning an Initial Public Offering (IPO) in the near to mid-term future. The purpose is to support companies optimize value from the IPO process.

The product is especially designed for promoters and managements aspiring to tap the capital market for the first time. The key elements of the program include building and nurturing corporate reputation, outreach programs targeting the universe of financial intermediaries and opinion influencers as well as a series of orientation programs to equip the management with skills to successfully navigate the communication challenges in the IPO process.

We have seen numerous examples of companies diluting value by approaching the market under-prepared in terms of the desired public profile and the ability of managements to face public scrutiny. IPO Nurture™ is also designed to support a company’s strategic initiatives such as private equity, M&A, restructurings, as well as attracting competent partners and consultants on board, en route to the IPO.

The product has been designed and structured by drawing on our 15 years’ standing as a leader in financial communications in the Indian market. Extensive inputs from investment bankers, fund managers, analysts, corporates, as well as corporate trainers have added real value to IPO Nurture™.

The initial response has been very encouraging from the corporate world, along with compelling endorsement from investment bankers, private equity investors, institutional investors and other intermediaries. The general feedback has been that IPO Nurture™ is a thoughtful product that meets a long felt market need.

The Holmes Report carries an article which announces the launch of IPO Nurture [Click here]

Some MSM and alternate media mentions include:

Business Standard

Economic Times

Agency FAQs

Indianomics

The press release announcing the launch can be viewed here

Posted in: Insight, Perspectives
Tags: adfactors pr, corporate reputation, financial communication, investor relations, ipo news, m&a, new pr product, po nurture, pr agency mumbai, reputation management

After years of effort at acquiring an Indian PR agency, Hill & Knowlton recently announced that it is taking over the reins of I-PAN (a JWT owned PR agency) in India. With this, all major WPP PR outfits have registered their presence in India.

In recent months, several global PR networks and even large independent agencies have made their foray into the Indian market. Publicis acquired Hanmer & Partners, APCO and Fleishman Hillard have set-up shops while others like Ketchum are reportedly in advanced talks with PR consultancies in India. Even smaller specialist firms like College Hill and Christiansen have begun operations.

India is a slightly tricky market for entry considerations. The entire PR consultancy business is estimated at a mere US$ 80 million – less than the size of any single independent American firm such as Waggner-Edstorm, APCO or even Text-100. In comparative terms, it is probably about one-tenth the size of the Chinese PR industry. At the same time, it is difficult to avoid India, given the global hype about India’s economic growth potential. For a while, most of these entrants should be happy to build an annual business of a couple of million dollars in the short run.

I hope their presence in India becomes a force multiplier for expanding the Indian PR industry, both in terms of size and the quality of practice.

Posted in: Insight, Perspectives
Tags: global pr agencies, indian market, public ralations industry