More Focus On Branding Urged By RBI

RBIThe Reserve Bank of India for the first time organized a meeting to bring together banking officials, businessmen and RBI officials to impart new policies of the centre to promote business in the country. RBI regional director, S Ramaswami speaking at a meeting in Kolhapur in Maharashtra on July 23 said that the Ichalkaranji textile sector should look towards branding to add value.

The textile sector from Ichalkaranji should go for branding itself across the country and abroad. There are several schemes of the government and banking sectors for starting business. Those will not only benefit through such branding but prosper as well, Ramaswami said. Outsourcing the jobs of international brand is a good thing, but branding would add more value to it.

Ramaswami further said that some clothes are made in Ichalkaranji but they are sold by the branded company at a much higher price, instead of that create Ichalkaranji as a brand of ready-made clothes. He said the banks will assist them with funds and credit supply as per the requirement.

About holding such an event in Kolhapur, he said union government has decided to push for local entrepreneurship and additional funding for people with business potential. Hence, a direct dialogue with the local businessmen who are interested in diversification or expansion will benefit out of it. Ultimately, they want to increase the employment through private sectors and new business activities across the country. Kolhapur being rich in agriculture and agro-processing, they have decided to concentrate on the district.

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