Taj Hotels Palaces Resorts Safaris, in partnership with The Luxury League, recently hosted the inaugural Luxury Symposium at the Taj Palace, New Delhi. The forum discussed how India’s legacy of history, tradition and craftsmanship can be reimagined to brand it as a global producer of luxury products and services.
Decision makers and innovators such as the CEO of NITI-Ayog Amitabh Kant, H.H. Maharaja Gaj Singh Ji of Jodhpur, Historian and Textile Revivalist Jasleen Dhamija, James Collard Editor-in-Chief Robb Report UK, Journalist Victoria Mather and Facebook’s Country Head Umang Bedi spearheaded sessions on their domain expertise.
Speaking on the occasion, Nirmala Sitharaman, Minister of Commerce and Industry said: “Luxury can easily fit into the Make in India vision, due to the sector’s phenomenal growth. This is therefore a significant segment, which must take its due place in Make in India. India finds prominent mention among the 5 BRIC countries contributing to this industry, due to its high growth rate – we are anticipated to see a 7.6% GDP in 2018. It is India’s aspirational class demand which is fuelling this growth.”
Citing India’s legacy of talented craftsmanship, she added: “It was India’s royalty who were great patrons of artisans excelling in the finest work of that era. Today, India’s finest artisans are dependent on MGNREGA wages. Thus, the luxury industry must identify from across India people of high calibre, and the transformational agent to bring them to the market. India’s luxury market is capable of branding, marketing, and promoting their work. We must Make in India, and ensure our talent finds a global market.
Ritu Beri, Founder, Luxury League, sought the support of stakeholders: “My desire is to strengthen the voice of India abroad and to open Indian doors to the world by showcasing our artistic talent through creative interactions and dynamic networking. The objective of the foundation is to brand Indian luxury globally, and to create an increased pool of knowledge and competence.” The event also featured insights from media, hospitality, and the Indian Ministry of Tourism on the need to create luxurious, exciting, and memorable opportunities for discerning clientele.
Defining luxury, Rakesh Sarna, Managing Director & CEO Taj Hotels Palaces Resorts Safaris spoke about social transformation: “India is fast becoming one of the world’s fastest growth engines. By 2025, we are expected to have 6 global megacities, producing high quality luxury goods and services, and great talent. We have the potential to assume a leadership presence in the global economy. While we aspire to become the luxury capital of the world, we must also aspire for the prosperity of our people and address the rising economic inequity. Luxury doesn’t refer to ‘brands’ – it is the richness of society. We therefore must work together towards India’s literacy and skill, which can create self-esteem, to power India’s growth potential. Only then will have achieved the epitome of luxury as mankind should know it.”
