As I have just returned from an Insights trip to India (we presented at the Reformulation India conference, ran an ideation workshop and introduced Mintel’s CPG Trends for 2011 to a number of clients), I thought it might be appropriate to provide a few insights about the glorious land that is India. India… Has a population of over 1.2 billion people. This is four times the size of the US More than 300 languages are spoken across the country India’s economy is the 11th largest in the world and is the fourth largest by purchasing power parity India has had an average annual GDP growth rate of 5.8% for the past two decades and is one of the fastest growing economies in the world India’s GDP will overtake that of Japan in 2011 and by 2045, India’s GDP will surpass that of the United States Since 1985 India’s economic growth has taken 431 million Indians out of poverty and by 2030 India’s middle class population will rise to more than 580 million people 41% of India’s population is currently aged under 21 India’s consumer market is expected to become the 5th largest by 2030 India has the worlds fastest growing telecommunications industry and the worlds second fastest growing automobile industry, with domestic sales increasing by 26% during the 2009-10 period India’s Tata Nano is the world’s cheapest car, priced at around $2200. A European-ised version is set to be launched across European markets The value of India’s IPL brand (the rapid fire cricket format) more than doubled from 2009 to 2010. In 2009 the sporting business brand was valued at $2.01 billion and sky rocketed to $4.13 billion in 2010 Across 2002 Bollywood sold 3.6 billion cinema tickets, whereas Hollywood only sold 2.6 billion The complex puzzle that is India holds a wealth of potential for brands taking a global perspective. The challenge lies in truly understanding how your business fits as a piece of the puzzle and making it work in one of the most rich, complicated and diverse societies on the planet. Sources include Wiki, hindustantimes.com, 2009 World Population Data Sheet, PwC, 2007 McKinsey Global Institute report You might also be interested in: No related posts.