Where’s India’s gifting industry heading?

Object of a recent informal get-together organized by Giftex, involving renowned vendors, established distributors, and top market players of the gifting industry was to discuss pressing challenges, issues, trends and concerns of each key constituent.

The core topic of discussion seemed to be the recent regulations imposed on gift giving in pharmaceutical and medical experts by the Government of India. In a sense, the meet was not merely about Giftex, but about the gifting industry as a whole and discussing how each segment of it could constructively contribute to evolution and further growth.

Emphasizing the need for a sustained and cohesive activity and underlining the larger point of this debate, Mr Vickram Sethi provided the cue in the beginning: “Where’s the gifting industry heading? What is its future in face of several new challenges like tough business environment and fast changing consumer habits? Where do we all see our business and the domain of gifting in the next couple of years?” He raised such pertinent queries, mentioning that prolonged recession indeed has hit many businesses and sectors.

Yet expressing hope, and sounding optimistic, he affirmed, “This phase will pass, too. We just need to be patient and persistent, innovative and imaginative in our approach. How we deal with the prospects and manage to grab their attention in the various possible unconventional ways will be crucial.” In this backdrop, precious insight gathered from the veterans, top professionals and experienced marketing/ branding experts, he suggested, could be blended with the practical push initiated by Giftex, one of India’s top exhibitors, to tackle the prevailing situation and turn it around over time.

As he rightly said, challenges were definitely there including the legal obstacles and several other intricate aspects in terms of giving/receiving gifts in certain businesses. But the situation is almost the same internationally. So we can learn a thing or two from our counterpart in the Western countries. He revealed, “Gifting industry cannot afford to take a pause or stagnate. All of us must constantly move on, irrespective of hurdles in the path towards success. This is where inputs of those with their ears to the ground and precious experience gathered over time are so very crucial.”

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