Speculation about India being renamed to Bharat has not only ignited a heated debate among politicians, it has also had experts calculating what the financial ramifications of such an exercise will cost the exchequer. The approximate cost of renaming a country, the estimate comes to a whopping Rs 14,304 crore, according to a source.
South Africa’s Darren Oliver came up with the formula in 2018 when Swaziland was renamed to Eswatini to break away from colonial vestiges. His estimates put the cost of renaming the African country at $60 million. He applied the same method for India using its revenue as a factor. According to Oliver, the average marketing budget of a large enterprise is around 6 percent of its total revenue while rebranding exercises cost up to 10 percent of the company’s overall marketing budget.
