Size and growth of the Indian market
“If you haven’t yet come to India, do so quickly. Anyone who doesn’t will be disappointed later on.”
Vineet Seth, Managing Director, Delcam Software India
With over 1.1 billion people, of whom 572 million are under the age of 24, India is currently the country with the biggest youth population in the world. This represents a large portion of society joining the workforce in coming years.
Rising income levels and the change in consumer choices are creating a greater demand for white goods, cars, mobile phones, leisure items, travel shopping malls and Western brands. India matters, with millions of affluent people and a growing middle-class presenting significant opportunities for UK businesses.
India is the second most populous country in the world, and the second fastest growing large economy, surpassed only by China. With a favourable demographic composition and people eager to invest in education and training, India’s long-term growth prospects are bright.
In addition to growing consumer demand and favourable demographics, India continues to offer investors a cost advantage, with costs of manufacturing, land and labour much lower than those in Western countries.
“The key considerations for choosing India were the labour cost of approximately £3k for new graduates, an increasing graduate population, the strong english language capability and a healthy work ethic, among others.”
Rakesh Kumar Gupta, CEO, ACIS – an Allianz Group company