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Indian Economy Overview

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Indians most optimistic about their economy: Emerging Affluence Report 2015

Economic Times:  October, 2015

New Delhi: Indians are very optimistic about their economy. Standard Chartered Bank's The Emerging Affluence Report 2015 has found Indians' optimism to be far higher than that of their counterparts in other emerging economies. Preeti Kulkarni provides some India-specific snapshots.


Confidence of respondents in home market's growth prospects over the next year:

India 95% Average 75%

Reasons for confidence in India:

Strong national economy 41% Strong government leadership 24% Appropriate regulation 14%


The top 3 spending priorities for Indians.

Next 12 months:

Buy new technology 37% Children's education 37% Travel within India 35%

Next two to three years:

Travel abroad 39% Buy a new property 37% Buy a new car 32%


Travel abroad as priority.

Next 12 months:

India 22% Average 31%

Next two to five years:

India 39% Average 32%


Intent to buy property.

Next 12 month:

India 33% Average 26%

Next 2-5 years:

India 37% Average 48%


Indian respondents' personal wealth aspirations over the next 10 years included buying property and launching own business.

Confidence in achieving personal wealth goals:

India 97% Average 87%


Increase in respondent's household disposable income.

In past 12 months:

India 85% Average 65%

In next 12 months:

India 88% Average 72%


Percentage allocation of income to savings.

In past 12 months:

India 29% Average 26%

In next 12 months:

India 33% Average 30%

What indians save most for:

Emergencies 64% Property deposit 63% Retirement 59%

(Note: The study was conducted by Standard Chartered among more than 7,000 emerging affluent consumers across China, Hong Kong, India, Indonesia, Kenya, Nigeria and Singapore. In India, the survey covered over 1,000 respondents in Mumbai, Delhi, Ahmedabad, Bangalore, Chennai, Hyderabad and Kolkata.)