Incredible India

An overview of the market by Ken Hunt, OBE, UK Trade & Investment business adviser South Asia Unit.

Key points from a presentation delivered by Ken Hunt at Venturefest Yorkshire in February 2007

There are 300 million people with consumer spending power
Retails credit growth is at 40% per annum
The number of shopping malls have increased from three to 300 in just five years
There are seven million new mobile phone subscribers per month
There are 1.3 million cars produced per year
111 power stations are to be built over the next five years
170 new aircraft are to be purchased over the next five years
Over 100 Fortune 500 companies have Indian R&D centres
India has three million graduates per year
150,000 software engineers work in Bangalore alone

India has a road network of 3.3 million km
There are 18,000 km of highways being developed under the National Highway Development Programme

The annual average wage for a production worker in India is $1,900. In China the average wage for the same job is $2,300.
The annual average wage for a HR manager in India is $15,100. The same job in China would come with an average wage of $32,000. (Source: FICCI Compilation)

India is expected to be the world’s 3rd largest economy by 2032 (Source G: Sachs)
India is expected to have a larger population than China
India’s workforce (20-59 age group) will grow by around 263 million by 2050, while China’s will grow by 94 million and USA’s by 11 million
India’s exports of automotive components are expected to increase 10 fold by 2015