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Last Updated: March 26, 2018
Tobias Reiss-Schmidt
CEO, Timex Group
Last Updated: April, 2018
DURABLES SECTOR REPORT | April, 2018
Indian consumer segment is broadly segregated into urban and rural markets, and is attracting marketers from across the world. The sector comprises of a huge middle class, relatively large affluent class and a small economically disadvantaged class, with spending anticipated to more than double by 2025.
India hit ten-year high and stood first among the 63 nations surveyed in the global consumer confidence index with a score of 136 points for the quarter ending December 2016.
Global corporations view India as one of the key markets from where future growth is likely to emerge. The growth in India’s consumer market would be primarily driven by a favourable population composition and increasing disposable incomes.
India’s robust economic growth and rising household incomes are expected to increase consumer spending to US$ 4 trillion by 2025#. The maximum consumer spending is likely to occur in food, housing, consumer durables, and transport and communication sectors.
Market Size
According to the data released by the Department of Industrial Policy and Promotion (DIPP), the electronics sector attracted foreign direct investment (FDI) worth US$ 1.836 billion between April 2000 and December 2017.
Following are some recent investments and developments in the Indian consumer market sector.
By 2025, India would rise from the 12th to the 5th largest position in the consumer durables market in the world. The consumer durables market in India is expected to reach US$ 20.6 billion by 2020. Demand growth is likely to accelerate with rising disposable incomes and easy access to credit. Increasing electrification of rural areas and wide usability of online sales would also aid growth in demand.
Exchange Rate Used: INR 1 = US$ 0.015 as of March 1, 2018
References: Media reports, press releases, Press Information Bureau (PIB), Union Budget 2017-18, Boston Consulting Group, International Data Corporation.
Notes: # - According to a report by Boston Consulting Group (BCG)
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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Last Updated: March 26, 2018
Tobias Reiss-Schmidt
CEO, Timex Group
A Big Step Forward
Krispian Lawrence co-founded Ducere Technologies with Anirudh Sharma in 2011. Lechal is the outcome of their concerted efforts to use haptics in the wearable technology space. Both Anirudh and I were always fascinated by wearable technology, and were tinkering with various ideas in this space.
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