India as good as China for investments: Sorrell
India offers as good an opportunity as China to investors and has the potential to be at par with the its Asian neighbour, according to WPP Plc chief executive Martin Sorrell.business Updated: Aug 21, 2011 11:02 IST
India offers as good an opportunity as China to investors and has the potential to be at par with the its Asian neighbour, according to WPP Plc chief executive Martin Sorrell.
He said India's brand value has seen a positive surge in the last few years, giving a boost to investor confidence.
“You do not choose between the two (India and China), if (I) had a billion, I would put 500 million in China and 500 million in India... the reason is that I would put my bet in the growth areas,” Sorrell said.
“As long as India continues to grow at a greater pace compared to other economies, multinationals will continue to invest significantly in the country,” he said.
“India does not have the stature yet of China, but it will be,” Sorrell said.
According to him, India as a brand has become stronger in the last few years.
Sorrell said India's claim as the fastest growing democracy is justifiable and that is good positioning.
Citing the difference between the two countries he said, “India is different from China in many ways and one way is in exports and trade. You (India) do not play a great role. India is about domestic consumption.”
Sorrell, however, said both countries are witnessing changes in their respective economies.
“India is not only a service-based economy, it is both service and manufacturing based...,” he said.
Similarly, China is also becoming both manufacturing and service based economy from a predominantly manufacturing one.
“So both countries are flipping in that sense to the other side of the equation,” the WPP Plc Chief added.