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India: The clear-cut story

India will be the worlds fastest-growing large economy through 2050


Gross domestic product (GDP) and compound annual growth rates of select world economies, 201050
Bubble size: scaled to GDP in 2050

7% 6% 5% 4% 3%
India India Indonesia

$1

US$ trillions

$5 $15 $30

China South Africa Brazil US

Mexico

2% 1% 0
Source: PwC analysis based on various historical and forecast sources, including Oxford Economics

Russia

Within 15 years, the Indian workforce will be larger than its Chinese counterpart. And it will stay younger
Working-age population (1664 years old)
millions 1,500
Average working age in India = 39 years

1,000

Average working age in China = 42 years

500

0 2005 2015 2025 2035 2045

Source: PwC analysis based on various historical and forecast sources, including Oxford Economics

India

China

On a per capita basis, Indian income will remain relatively low, forcing companies to offer greater value
GDP per capita at purchasing power parity (PPP) exchange rates, US$ in 2005 prices
US$ 100,000 $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$

50,000 $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ ```` 2010

$$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$

```` ```` ```` 2030


India

2050

```` ```` ```` ```` ```` ```` ```` ````

Source: PwC analysis based on various historical and forecast sources, including Oxford Economics

China

US

Indias diverse and large consumer segments are driving purchases across categories

700,000,000
Rural consumers
Shampoo, toothpaste Some electronic products Food and beverages

500,000,000
Young consumers
Two-wheelers Mobile phones Apparel and accessories

Equivalent to almost half the size of the Chinese population (1.3 billion people)

350,000,000**
Middle-class consumers
Apparel Consumer electronics Personal care

Larger than the combined populations of Brazil, Russia, Germany and the UK (484 million)

More than the size of the US population (315.5 million)

126,700*
US$ millionaires
Luxury cars Luxury products Homes and apartments

Sources: PwC analysis, rst published in Winning in Indias Retail Sector, 2011 * Capgemini, Merrill Lynch Wealth Management **Income levels for middle-class consumers, according to the Indian National Council on Applied and Economic Research, range from INR140,000 to 780,000, which, using a conversion rate of USD1 equivalent to INR45, is USD3,111 to 17,333.

Rural Indians are now spending at a faster rate than urbanites


Annual consumption expenditure per capita2005, 2010, 2012and rate of increase in spending, 201012
US$ 600 500 400 300 200 100 0 $$$ $$$ $$$ $$$ $$$ $$$ 2005
Source: Oxford Economics and CEIC 2012 data is a provisional estimate from the National Sample Survey Ofce

% increase in spending 21 $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ 2012
Rural Urban

18 15 12 9 6 3 0

$$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$

$$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$ $$$

2010

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