Look before you leap

● Daewoo cannot bank on legacy as it returns to India

- TOSHIRO AGARWAL

South Korea's Daewoo quit India exactly two decades ago after its market in the country began to slip from under its feet as the parent went bankrupt. Cut to 2024. The company has said it will re-enter the world's fourth-largest consumer market with a range of home and kitchen appliances.

There's no denying the timing is right. The Indian consumer market is at a pivotal juncture. With premiumisation sweeping across industries and a growing appetite for global brands, India has become a happy hunting ground for global brands.

According to Angshuman Bhattacharya, partner & national leader, consumer products & retail sector, EY-Parthenon, the growing digitisation of retail, particularly in Tier 2 and Tier 3 cities, makes it a prime market for re-entry brands. "E-commerce platforms have democratised access for consumers, enabling them to experience global brands at the click of a button," he adds.