Over 380 million Indians (72 million households) have an annual household
income of over $10,000 (in PPP terms). This is expected to increase to 550
million by 2010. The economic reforms since the early nineties have unleashed a
new entrepreneurial spirit creating a vibrant economy supported by rising per
capita income.
Fast growing disposable incomes, increased availability and use of consumer
finance and credit cards complement the keenness of the average Indian to adapt
to and assimilate global trends. This has led to the creation of a rapidly
growing consumer base and one of the world's largest markets for manufactured
goods and services.
Growth in key sectors like infrastructure,
services and manufacturing continues at almost 12% p.a.
The market for basic goods such as groceries and
textiles is already large, driven by the demands of an enormous population.
Markets for other products are equally large and growing rapidly.
Over 100 million telephone subscribers,
growing at over 25 million p.a.
Over 8 million TV sets and 4 million refrigerators
are sold annually with a growth of over 20% p.a.
Total production of vehicles is likely to
exceed 10 million in 2005-06, up from 8.6 million in 2004-05. In 1998-99,
this was only 4.2 million.
India has been ranked 2nd by AT Kearney in a Global
Retail Development Index of 30 developing countries and is seen as a
potential gold mine.
Burgeoning markets
Estimated Potential based on
comparable benchmarks
Over 380 million Indians (72 million households) have an annual household
income of over $10,000 (in PPP terms). This is expected to increase to 550
million by 2010. The economic reforms since the early nineties have unleashed a
new entrepreneurial spirit creating a vibrant economy supported by rising per
capita income.