Sabyasachi Mukherjee Advocates for India’s Soft Power at Forum

During the ET World Leaders Forum on March 16, 2024, renowned fashion designer and entrepreneur Sabyasachi Mukherjee delivered a compelling message about the significance of India’s “soft power.” He emphasized that the country’s craftsmanship and artisan skills should be valued equally to traditional “hard power” assets, such as oil and steel. Mukherjee’s remarks highlight a crucial shift in how India should approach its global economic positioning.

Redefining Economic Strength

Mukherjee’s assertion that “soft power is our hard power” serves as a strong reminder of India’s unique capabilities. He argues for a strategic elevation of high-quality artisanal products to a global signature. This approach could significantly enhance India’s economic impact worldwide, moving beyond mere participation in global supply chains.

According to Mukherjee, India’s monopoly on high-end luxury products provides a competitive edge that can withstand trade tariffs. He noted that consumers would likely continue to purchase these exclusive items, regardless of price increases associated with tariffs. “People will buy them regardless of higher tariffs because they will want these products that no other country can produce,” he stated. This sentiment not only applies to haute couture but also extends to other sectors like video gaming, travel, and food experiences.

Harnessing Traditional Strengths

Rather than solely seeking to integrate into existing supply chains, Mukherjee urged India to leverage its traditional strengths in craftsmanship. He believes that by focusing on high-end artisanship, India can carve out a niche comparable to Germany’s reputation for precision toolmaking. This strategy could also enhance the country’s reputation in sectors like high-end jewellery design.

Mukherjee’s call to action encourages a dismantling of the binary thinking surrounding hard and soft power. By aggressively marketing and promoting India’s unique offerings, the nation can elevate its global standing. The potential for scalability in this model is significant, as it taps into a rich heritage of artisanship that is often overlooked.

As India looks to broaden its global influence, Mukherjee’s insights provide a roadmap for harnessing its cultural and creative strengths. By prioritizing the promotion of soft power, India can not only enhance its economic landscape but also solidify its identity as a leader in high-quality craftsmanship.