Rajeev Mantri, Managing Director of Navam Capital, sparked a conversation on Sunday regarding India’s global competitiveness, attributing the rising preference for foreign-made products and destination weddings abroad to long-standing policy shortcomings and structural inefficiencies that persist even decades after economic liberalisation.
Taking to social media platform X, Mantri wrote, “I’d like to point out some reasons why more Indians are choosing to host weddings overseas or opting for foreign brands. The harsh reality is that most Indian products and services still do not match the quality, reliability, or value for money offered by their international counterparts.”
His comments followed recent remarks by Prime Minister Narendra Modi, who, while addressing a gathering in Varanasi, encouraged citizens to embrace swadeshi (indigenous) values and support local products. PM Modi emphasized the need for economic self-reliance, stating that as India moves toward becoming the world’s third-largest economy, it must also stay focused on protecting and promoting domestic industries amidst global uncertainty.
In response, Mantri highlighted a disconnect between such national appeals and the realities faced by Indian consumers and businesses. “Indian consumers are highly value-conscious — they want the best for their money. And even after 35 years of economic liberalisation, we remain far from being globally competitive. The blame does not lie with Indian entrepreneurs but rather with successive central and state governments that have failed to create an enabling environment.”
Mantri’s remarks have sparked broader discussion on how policy frameworks, ease of doing business, and infrastructure challenges continue to hinder the growth of world-class Indian brands and services.