‘Vocal for Local’ – ‘Aatamm Nirbhar Bharat’- ‘Self-reliant India’
Prime Minister Narendra Modi on Tuesday (May 12, 2020) addressed the nation amid COVID-19 lockdown and said that it is time to become vocal for our local products. He also added that it is time to make those products global now.
PM Modi in his address said, “It is time to become vocal for our local products and make them global.”
He added, “Local is the way forward. Help the poor-selling local products. Buy from neighborhood shops, vegetable sellers, and help them grow. Every big international brand was once local. Make Indian products grow big.”
Vocal for Local’ – ‘Aatamm Nirbhar Bharat’- ‘Self-reliant India’ :Economy is the backbone of any country.
He spoke about the strengths of the nation when it comes to stepping up in times of distress. Among the many topics highlighted in his over-half-an-hour long speech, there was a focus on how citizens should support local companies and produce. Building their own narrative around this his call to go Vocal for Local, several businesses put up brand creatives on social media handles today.
There is no need to take up arms to take possession of a country whose economy collapses. The country with collapsed economy surrenders itself to a powerful economy automatically.
Today, there is only one way to strengthen the economy of our country… Promote Indian entrepreneurship.
Therefore, a new series of ‘Self-reliant India’ and ‘Vocal for Local’ is starting from today, which will be aimed at providing information to increase self-reliance in the matter of entrepreneurship.
Suggestions, cooperation and criticism. all will be welcomed.
Some more things will be added gradually over time.
As a first topic, today we will talk about business ideas.
The first step to entrepreneurship is a good business idea. Usually people search a lot to get a good business idea to start entrepreneurship, while it is very easy.
FMCG (Herbal Based)- Need to plan herbal based Product and Healthy products after proper market research.
MSME- We need to plan and register the enterprise under MSME to take the Government scheme benefits.
Franchise – This is the easiest way to start a business. In this way, anyone can start his/her business by contracting with any successful company, adopting their pre-installed business model. It requires a fee to be paid to use the business model and brand. The biggest advantage of this method is that it provides a strong base to start your business. The cost of marketing and brand promotion will be reduced significantly.
Improve – Every business solves of some problems. There are many pre-existing business ideas or products in the market that can be made better and usher to new market segments.
For example, suppose a product is already being sold in the market but its service is not up to the mark… In such a situation, entrepreneurship can be started by bettering that business with better service model and presenting it to the customer. In fact, many new businesses enter the market in this manner.
Copy – In this, venture can be started with own name, by copying existing business ideas as it is.
The best examples of this are the mom and pop shops which are already present around us. Investment in such businesses is generally low. Risk factors and profit scales are known in advance. It does not require a license from a pre-established business like in franchise model.
Innovation – In this, a new product or service is introduced in the market that is not already present. Being a completely new type of product or service, it has to spend more on things like product development, market research, customer awareness and business promotion. This type of business idea is more risky to be successful, but its biggest advantage is that being the only company, it gets first mover advantage in the market.