Meet Ravin Lama, President of the American Chamber of Commerce and MD of Mind Initiatives Ltd. With his role as AMCHAM President, he is dedicated to strengthening business ties between Mauritius and the USA, with a focus on bolstering bilateral trade and investment. At the helm of Mind Initiatives, he spearheads the transformative Brand Magic Event, fostering a culture of imagination and collaboration within the advertising, PR, branding, and marketing industries. Lama recognizes the pivotal role of branding in achieving success, emphasizing its advantages such as differentiation, brand equity, and customer loyalty. Anticipating the rise of innovative trends like AI in advertising, Lama envisions a future of continued growth in the creative sector, urging professionals to remain adaptable and forward-thinking.
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As the President of the American Chamber of Commerce, what are your primary responsibilities and goals in this role? How do you contribute to fostering business relationships between Mauritius and the United States of America?
As the President of the American Chamber of Commerce, my primary responsibilities and goals are to promote and strengthen business relations between Mauritius and the United States of America. I work towards creating a platform where members of the American business community can network, exchange ideas, and explore opportunities for collaboration with local businesses. Additionally, I strive to advocate for policies that are conducive to the growth of American companies in Mauritius and vice versa. Through my role, I aim to enhance bilateral trade and investment between the two countries, creating a win-win scenario for both parties. As AMCHAM is the largest global business network, I also intend to help local businesses expand to other countries besides the USA.
Could you provide us with an overview of the existing network and collaborations between Mauritius and the United States of America? How have these relationships evolved over the years, and what potential opportunities do you see for further growth?
Mauritius and the United States of America have a long-standing relationship that has evolved over the years. The United States is one of Mauritius’ top trading partners, with the U.S being the third-largest export market for Mauritius. The two countries have also collaborated in various fields, including trade, investment, education, and security. The United States has been a significant source of foreign direct investment (FDI) in Mauritius. Some of the potential opportunities for further growth between the two countries include expanding trade in goods and services, increasing investment flows, and exploring new areas of cooperation, such as renewable energy and ICT. Another area is Fintech. The Mauritius government could really benefit from an understanding of international digital policy norms. Alignment with these, coupled with the existing financial services sector infrastructure here could really propel the Mauritius economy, as well as partner economies in the African Continent that would benefit from the innovation that could be incubated here. AMCHAM Mauritius maintains resources to help its members and the Government of Mauritius with this evolving field.
The advertising world is constantly evolving, with new trends and innovative approaches emerging all the time…
Ravin Lama | President, AMCHAM | MD, Mind Initiatives Ltd
Let’s delve into your company, Mind Initiatives, and the Brand Magic Event. Could you share the inspiration behind the event’s inception and its main objectives? How does the Brand Magic Event contribute to the growth and development of the Creative Industries (advertising, PR, branding, and marketing)?
Mind Initiatives is a company that aims to promote innovation and creativity in the business world. Brand Magic is an annual gathering of professionals in the advertising, PR, branding, and marketing industries. The inspiration behind the event’s inception was to create a platform where industry professionals could come together, exchange ideas, and learn from one another. The main objectives of the event are to showcase the latest trends and developments in the industry, provide networking opportunities, and inspire creativity and innovation. Brand Magic contributes to the growth and development of the creative industries by bringing together professionals from different fields, fostering collaboration and knowledge-sharing, and providing a platform for showcasing new and innovative ideas.
In today’s highly competitive business landscape, how crucial is branding for a company? What tangible benefits does effective branding bring to an organization, and how does it contribute to overall success?
Branding is crucial for any company, regardless of its size or industry. Effective branding helps a company differentiate itself from its competitors, build brand equity, and create a strong brand identity. It enables companies to establish a connection with their target audience and create a loyal customer base. Tangible benefits of effective branding include increased brand recognition, customer loyalty, and sales growth. Effective branding also helps companies to attract and retain talent, as it creates a positive image and reputation for the company.
The advertising world is ever-evolving. Please shed some light on the new trends and innovative approaches you have observed in recent years. How is artificial intelligence (AI) influencing the advertising industry, and what changes do you anticipate it will bring in the future?
The advertising world is constantly evolving, with new trends and innovative approaches emerging all the time. One of the most significant trends in recent years has been the use of artificial intelligence (AI) in advertising. AI is being used to create personalized and targeted advertising campaigns, optimize ad placement, and analyze consumer behavior. Other trends include the use of social media influencers, the rise of video advertising, and the increasing importance of mobile advertising. As AI technology continues to advance, we can expect to see more significant changes in the advertising industry, such as the use of virtual and augmented reality in advertising campaigns.
Looking ahead, how do you envision the creative sector developing in the coming years? What emerging opportunities and challenges do you foresee, and how can professionals in the industry adapt to stay ahead of the curve?
The creative sector is expected to continue growing in the coming years, with new opportunities emerging in areas such as digital marketing, e-commerce, and content creation. However, the industry also faces several challenges, such as increasing competition, changing consumer behavior, and the need to keep up with new technologies. Professionals in the industry will need to be adaptable, flexible, and continuously upskilling to stay ahead of the curve. Additionally, collaboration and networking will play a crucial role in fostering innovation and creativity in the industry.
As a creative mind yourself, how do you stay inspired and continuously generate fresh ideas? What advice would you give to aspiring professionals who aim to excel in these areas and make a meaningful impact?
As a creative mind, I stay inspired by reading, attending industry events, and collaborating with other professionals in the field. I also try to stay curious and open-minded, always looking for new ideas and perspectives. My advice to aspiring professionals would be to never stop learning, be willing to take risks, and don’t be afraid to fail. Creativity requires experimentation and persistence, so keep pushing yourself and never give up on your ideas.
In your experience, what are some common misconceptions or myths about the Creative Industries? How can these misconceptions be addressed, and what steps can professionals take to ensure transparency and ethical practices in their work?
One common misconception about the creative industries is that they are not essential or that they are all about superficiality and aesthetics. However, the truth is that branding, advertising, and marketing play a vital role in shaping how we perceive and interact with the world around us. These industries help companies communicate their values, products, and services to their target audience and create meaningful connections with their customers. To address these misconceptions, professionals in the industry should focus on educating the public about the value and impact of their work. They should also strive to maintain ethical and transparent practices, such as avoiding false advertising and ensuring that their messaging aligns with their clients’ values.