New Delhi [India], Aug.10 (ANI): In the global economy, a primary value enhancer for an Indian manufacturing company is building solid brands. A successful brand building strategy is the holy grail pursued by all companies. But building a profile of international brands is a different ballgame. An expensive, long term and complex combination of many factors goes to build a single brand, and multiple of those factors go into building a war chest of brands in international markets for any company. Acquiring a trademark in a foreign market is one of the foundation pillars in the strategy. Trademarks can either be acquired through designated trademark authorities in individual countries or through international protocols such as WIPO, EUIPO, ARIPO.
Indian companies are not only content with growth in India, but also serious about accessing international markets have to embark on this daunting road, and need an appetite to compete against Chinese prices and established market presence of western and multinationals brands. A good number of Indian companies have built international brands. Parijat Industries,a manufacturer of high quality agrochemical formulations is one of India's leading branded agrochemical exporters with a formidable war chest of international brands and registered trademarks.
With exports spanning countries of Asia, Africa, Europe, North and South America and Oceania and CIS; Parijat and its international subsidiaries has quietly embarked on an international brand building strategy acquiring a war chest of trademarks in a formidable 45 countries worldwide and another 10 in the pipeline. This includes its mother brand Parijat and, or trademarks for its branded formulated products. Trademarks for branded formulations have been acquired in countries spanning different continents such as England, France, Canada, Bangladesh, Myanmar, Sudan, Kenya, Iraq, Russia, Georgia, Peru, Ecuador, and Guyana. Apart from these the company already has over 60 trademarked brands in the Indian market where it sells in 22 Indian states. Acquiring a brand can take a substantial amount of time and investment and this can span from 6 months to up to 3 years. If objections arise and litigations follow this period can extend into years.
Acquiring a pesticide formulation registration in any country is a lengthy affair and at an average can take 2-3 years at the minimum. Therefor the branding and trademark must go hand in hand with the product registration. Parijat has built up a daunting 400 product registrations in 45 countries, which form the bedrock upon which trademarked brands are being built in international markets, and Parijat is looking to cash in the coming years.
Keshav Anand, Chairman and Managing Director of Parijat says "putting in place the registrations and trademarks globally is a strategic initiative for acquiring the springboard to enable Parijat with the ability to ramp up, nonlinear volumes in each market as opportunity arises." (ANI)
This story has not been edited. It has been published as provided by ANI