India: A sustained market opportunity

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India: A sustained market opportunity

Published on: July 02, 2012 by Aparna Dutt Sharma, Chief Executive Officer, IBEF

None would question the fact that the Indian consumer market over the years has matured and expanded, powered by sustained growth in the economy, making available higher disposable incomes and creating a more aware consumer. And the estimated US$ 500 billion annual retail opportunity in the country is an expression of the changing face of the consumer market. In this context, IKEA's recent announcement to invest €1.5 billion (US$ 1.89 billion) in India over the next 15-20 years and that by Coke to invest US$ 5 billion by 2020 are noteworthy. In fact, consumer spending in India is expected to grow nearly four times over a decade to US$ 3.6 trillion by 2020. A recent AT Kearney report confirms the growth expectations on the market informing that India ranks amongst the top five retail markets in the world with growth supported by strong macro fundamentals and a GDP rate of 6-7 per cent. Whilst markets beyond India may be losing sheen, the international business community's sustained business commitments suggest confidence in the Indian market. Indeed, India remains an attractive and viable business proposition.

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