- Sector Relevance
- The business must operate in a sector relevant to Indian-origin goods or services. Key sectors include:
- Textiles and Apparel: India is the second-largest textile exporter globally, with a market size expected to reach USD 223 billion by 2021-2026.
- Handicrafts: The Indian handicrafts market is valued at approximately USD 9.7 billion, showcasing traditional craftsmanship and cultural heritage.
- Food and Beverages: With a market size of around USD 1.1 trillion, this sector includes organic, processed, and ethnic foods.
- Agricultural Products: India is the world’s largest producer of spices and ranks second in fruits and vegetables, with a rapidly growing agri-tech sector.
- Pharmaceuticals: Expected to reach USD 65 billion by 2024, this sector is critical for both domestic and international markets.
- Information Technology and Services: India’s IT market is valued at approximately USD 194 billion, representing significant global outsourcing capabilities.
- Renewable Energy: With a target to achieve 500 GW of renewable energy by 2030, this sector is rapidly growing and attracting investments.
- The business must operate in a sector relevant to Indian-origin goods or services. Key sectors include:
- Sustainability Practices
- Businesses must demonstrate sustainable practices in line with India’s focus on environmental conservation:
- Adoption of eco-friendly materials and processes in production.
- Proof of sustainability certifications, such as organic or fair-trade certifications, to comply with increasing consumer demand for sustainable products.
- Documentation of waste reduction initiatives, energy efficiency, and carbon footprint management, reflecting India’s commitment to sustainable development.
- Businesses must demonstrate sustainable practices in line with India’s focus on environmental conservation:
- Cultural Relevance
- The business should embody and promote Indian cultural heritage:
- Use of traditional methods and materials in production, such as handloom textiles or artisan crafts.
- Incorporation of local art, design, and narratives that represent India’s diverse culture.
- Promotion of local artisans or craftsmen, which contributes to rural employment and the preservation of traditional skills.
- The business should embody and promote Indian cultural heritage:
- Business Size and Revenue Requirements
- Businesses must meet specific revenue or size criteria:
- Small Enterprises: Annual turnover of less than INR 10 crore.
- Medium Enterprises: Annual turnover between INR 10 crore to INR 100 crore.
- Large Enterprises: Annual turnover above INR 100 crore, reflecting India’s growing base of large and multinational corporations.
- Submission of financial statements for the last 2-3 years, showcasing growth and stability.
- Businesses must meet specific revenue or size criteria:
- Ethical Standing
- A strong ethical standing is crucial for certification:
- No significant legal complaints or disputes that could harm the business’s reputation.
- Adherence to local laws and regulations, including compliance with Labor laws, taxation, and industry-specific guidelines.
- Evidence of fair business practices, including equitable treatment of employees and suppliers.
- A strong ethical standing is crucial for certification:
- Quality Assurance
- Businesses must meet quality standards to ensure competitiveness:
- Possession of recognized quality certifications, such as ISO, FSSAI for food safety, or other relevant industry certifications.
- Commitment to quality control processes and continuous improvement, reflecting the increasing consumer demand for quality products.
- Businesses must meet quality standards to ensure competitiveness:
- Commitment to Growth and Collaboration
- A demonstrated willingness to engage in international trade and collaboration:
- Clear strategies for expanding into new markets, with a focus on exports, given India’s ambition to reach USD 5 trillion in GDP by 2025.
- Participation in trade shows, exhibitions, and initiatives that foster global business connections.
- A demonstrated willingness to engage in international trade and collaboration:
- Application Completeness
- All required documentation must be submitted with the application:
- Proof of business registration (e.g., Certificate of Incorporation, GST registration).
- Detailed descriptions of products or services, highlighting their relevance to Indian culture and sustainability.
- Recent financial statements, sustainability documentation, and any other relevant certifications or licenses.
- All required documentation must be submitted with the application:
Conclusion
These eligibility criteria aim to reflect the dynamic landscape of the Indian business market, promoting businesses that can showcase the best of Indian-origin products and services. By ensuring these standards, The Brand Bharat initiative will support businesses in enhancing their credibility and visibility, both domestically and internationally, contributing to India’s vision of becoming a global business leader.