London: Consumer spending in emerging market powerhouses China and India is expected to triple by 2020 to a combined $10 trillion a year, potentially helping to boost economic growth and corporate profits in the developed world, researchers said on Tuesday.
The study by Boston Consulting Group (BCG) is based on a survey of 24,000 consumers as well as interviews with business leaders. The business strategy consultancy predicts consumers in China and India will spend a combined total of $64 trillion on goods and services in the decade leading up to 2020.
Annual spending on consumer goods will be three times the level spent in 2010, according to "The $10 Trillion Prize: Captivating the Newly Affluent in China and India".
"We are at a turning point in history where relative wealth will shift from the West to China and India, but absolute wealth, including in the West, should increase," said Michael J Silverstein, a senior partner at BCG and the book's co-author....
more
01:14 AM, Oct 03, 2012
Thiruvananthapuram: The domestic and high tension users of electricity in the state are in for another shock. The Kerala State Electricity Board (KSEB) has decided to request the government to restrict the use of power and charge market rate for the domestic consumers who use more than 200 units a month. For HT industries, 30 percent of the total use will be charged market rate and only 70 percent the...
11:29 AM, Sep 22, 2012
London: Coca-Cola and Pepsi contain minute traces of alcohol, a study has revealed. According to tests carried out by the Paris-based National Institute of Consumption, more than half of leading colas contain traces of alcohol, Daily Mail reported on Wednesday. These include the brand leaders Coca-Cola and Pepsi Cola, while it is mainly only cheap supermarket versions of the drink which are alcohol-free. French magazine '60 Million Consumers' published the...
12:24 PM, Jun 28, 2012
Beijing: China will soon surpass Japan to become the biggest consumer of IT products and services in the Asia-Pacific region, according to the International Data Corporation (IDC). China's expenditure on IT is gradually approaching that of Japan, and will hit $173 billion in 2013, about four per cent higher than Japan, the China Daily reported. In the IDC report published May 17, the group attributes China's growth in IT consumption...
10:15 AM, May 20, 2012
A parliamentary panel says some doctors are colluding with big pharmaceutical companies to sell unsafe drugs to the Indian consumers. ...
11:58 PM, May 15, 2012
New Delhi: The packaged food industry in India is likely to double by 2015 to touch $30 billion from the current $15 billion owing to the rise in income, changing urban lifestyle and modern retail trade, says a study. The main categories of packaged food are bakery products, canned processed food, frozen processed food, meal replacement products and condiments. Some emerging new categories in this segment are processed dairy products,...
01:53 PM, Apr 29, 2012
Sky-high prices of essential commodities hit consumers hard, especially in the metros. ...
11:20 PM, Jan 07, 2011
London: More than three-quarters (77 per cent) of 18,000 people in a global survey by Reuters/Ipsos said next year will be better than 2010. Nearly half the respondents (48 per cent) polled across 24 countries said that 2010 was "a bad year for me and my family." But just over half (51 per cent) believe the "world will be a better place in 2011" and those who planned to make...
01:04 PM, Jan 01, 2011
New Delhi: The media environment and the media consumer have evolved significantly in the last few years and the relationship of the media and the consumer is very complex. Also, as media and communication become more and more vital for the success of businesses we realise that cutting edge communication solutions require a far more in-depth exploration of the media behaviour of consumers than provided by the syndicated studies available...
12:57 PM, Sep 10, 2010
From vintage sardines to tiny pearls of hand-rolled tea, fancy food finds plenty of hungry, high-end consumers in US. ...
12:20 PM, Jun 30, 2010
Country comes second in global consumer confidence survey. ...
02:06 PM, Aug 11, 2009
Pepsi had said companies like them were resistant to a slowdown. ...
06:06 PM, Jun 11, 2009
It was the second most auspicious day to buy gold after Dhanteras. ...
02:52 PM, Apr 28, 2009
Many cos refused to quantify price cut, saying "we have to study fine print". ...
11:41 PM, Dec 07, 2008
Government plans to watch out for signs of trouble to work on. ...
10:30 PM, Dec 07, 2008
The Government is expected to unveil a fiscal stimulus package. ...
10:13 PM, Dec 05, 2008
Every year, corporate India loses crores to counterfeit products. ...
11:10 PM, Aug 28, 2008
Another round of CRR and repo rate hike by RBI is bad news for consumers. ...
11:38 PM, Aug 02, 2008
Climbing inflation has brought discount sales a little early this year. ...
11:00 PM, Jul 31, 2008
Unsolicited credit cards will be bank's responsibility, says central bank. ...
09:07 PM, Jul 24, 2008
