The Great Indian Consumer
The Indian consuming class is going to get bigger and better. A rising middle class with a voracious appetite for branded goods is primarily behind consumption rises (NCAER Report). Private consumption today is billed at $548 billion which is 59% 0f India's GDP. Note some numbers. Home loan takers have touched 21 million (2.6 million a decade ago), Credit Card holders number 18 million. Now those are staggering figures.
The Indian Middle class' average household spend per annum is Rs. 122,446 ( Technopak ) and incomes are still rising. A PwC research has shown that per capita incomes have risen from $460 in 2002 to $620 in 2005. The study says that disposable incomes will go up by an average of 8.5% every year till 2015.
The effects of this phenomenon is again staggering. The company LG's sales grew from Rs. 125 crore a decade ago to Rs. 8250 crore. Reebok has had a 50% growth in its income over its 12 year stint in India.
Great time to do business in India.
The Indian Middle class' average household spend per annum is Rs. 122,446 ( Technopak ) and incomes are still rising. A PwC research has shown that per capita incomes have risen from $460 in 2002 to $620 in 2005. The study says that disposable incomes will go up by an average of 8.5% every year till 2015.
The effects of this phenomenon is again staggering. The company LG's sales grew from Rs. 125 crore a decade ago to Rs. 8250 crore. Reebok has had a 50% growth in its income over its 12 year stint in India.
Great time to do business in India.
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