The new Indian consumer is young, enterprising, optimistic and confident.

An increasing middle class, with higher disposable incomes and sophisticated lifestyle tastes, has a growth rate that could soon outstrip that of rapidly ageing China. Now ranked as the ninth largest consumer market in the world, India is on track be the fifth largest by 2025, overtaking Germany.

NEW WEALTH: With an economy growing at roughly 8% per year over the past decade more than double the rate of the United StatesIndia!s new middle class has an appetite for spending, and leads the world in consumer confidence. INNOVATION & ENTERPRISE: Many companies are turning to Indian talent for new innovation. With over 100,000 English-speaking engineers graduating each year, India is an attractive destination for global research and development. THE NEW CONSUMER: Buying power in India has expanded to new consumer segments: urban youth and women. India has the world!s youngest population with 65% between the ages of 20 and 40. LOCAL & LOYAL: Indian consumers can be fiercely loyal, and local cultural identity is an important factor. As a result, a large majority favors local brands or global brands with local flavor. DIVERSITY & RURAL INDIA: More culturally varied than China with 1,500 dialects and a multitude of faiths, India!s diversity defies easy one-size-fits-all approaches. Understanding and identifying differing preferences for consumer goods from region to region is the biggest challenge to entering and succeeding in the Indian market. DIGITAL INDIA: India could become the first truly mobile digital society, with many favoring cheaper mobile phones to personal computers. The country!s base of 81 million Internet users is the world!s fourth largest.

With an economy growing at roughly 8% per year over the past decade more than double the rate of the United StatesIndia!s new middle class has an appetite for spending, and leads the world in consumer confidence, despite threats of inflation. Most economists predict that the country will outstrip Japan to become the world!s third-largest economy by 2025.

Rising middle class: Rapid economic growth has led to a new middle class: 288 million people and rising. By 2025, 40% of Indians will be middle class, and disposable income is expected to increase at an average of 8.5% per year until 2015. The main factors contributing to the rise include the increasing number of women in the workforce, more nuclear families and greater urbanization. (The Economic Times, India May 22, 2011) India's consumer confidence has remained consistent over the last five quarters. Despite high inflation, the country continues to top global consumer confidence levels due to strong economic growth and an optimistic job market. (The Times of India, May 25, 2011) Buying more despite inflation: Consumers are opting not to limit household purchases despite the prospect of inflation. Aiding this household consumption, companies are pushing affordable packs across categories. Now even skin creams and packs of cookies are available at Rs 5 and below. (Business Standard, September 13, 2011) The Indian retail market is expected to more than double over the next four years, and is currently estimated to be worth about $45 billion per year; however, organized retailing only represents 9%. Crisil Research estimates the total retail market will increase to $850 billion, of which the organized segment will be $80 billion, a 23% increase. Clothing accounts for 6% of the retail market, while food and grocery represent a 65% majority. (WWD, September 19, 2011)

The new millionaires: The average monthly income of 30-something Indian consumers has shot up by nearly 36% in the past four years. In addition, credit cards and loans are boosting purchasing power. Young Indians with platinum credit cards are everywhere, buying premium clothing, high-end durables and fancy gadgets. Harish Bijoor, CEO of Harish Bijoor Consults, states that 35-year-olds are credit animals there is little they consider beyond their reach." (The Economic Times, India, May 22, 2011) India is home to about 62,000 super-rich households with a total accumulated wealth of around $1 trillion. This estimated wealth is anticipated to grow by $5.3 trillion over the next five years. (Top of the Pyramid Report, Kotak Wealth Management, June 7, 2011) India goes global: In the past ten years, India!s Tata Group has spent $15 billion buying up famous British firms, including Tetley Tea, Corus (formerly British Steel) and Jaguar Land Rover. As a result, Tata is now Britain!s biggest industrial employer. (The Economist, September 10, 2011) The Indian consumer market has three segments. The first I pay more to get more mindset is driven by emotion. The second, midlevel mindset believes that I get good value at a reasonable price. The large lower block feels that I pay less and I get less and is totally satisfied with that. This is a segment that many marketers overlook since they feel that there is no existing demand; however, nothing could be further from the truth. (The Indian Consumer, Spencer Stuart, 2008)

Purchasing decision factors are merging in urban and rural areas. In urban markets, aspiration is keyit is all about brands, lifestyles and showing off. This is followed by quality and finally price. Rural India is driven primarily by price, followed by aspiration, and then quality. However, the Indian consumer, no matter where he or she is, still looks for a good bargain. This is a unique Indian characteristic. (The Indian Consumer, Spencer Stuart, 2008) Indian consumers are highly price-sensitive. Shoppers in India (88%) are the most price-conscious in the Asia Pacific region. (Nielsen, August 12, 2011) Bargain hunters: Indians! relationship to seeking out value is primordial. The notion of paisa vasool refers to the feeling of satiation at having extracted full value from a thing or service. Regardless of whether housewives live in an affluent neighborhood or in crowded flats, they must get dhania (coriander) and hari mirch (green chilli) free when buying vegetables. It has nothing to do with affordability; it is about additional value to make the transaction most fulfilling. (Mother Pious Lady, Santosh Desai, Sage Publications, 2010) How India spends: The key beneficiaries of increased private domestic consumption will be the organized retail, healthcare, entertainment, media and automobile sectors. The Indian packaged consumer goods market rose about 11% in the last 12 months; impulse foods such as salted snacks have grown by 20-30%. Kellogg expects sales of breakfast cereals in India to triple between now and 2015. (Livemint.com, March 8, 2011) The Indian domestic textiles and apparel market is expected to grow at a compound annual growth rate of 11% to reach 6,56,000 crore by 2020. (The Financial Express, September 19, 2011)

Many companies are turning to Indian talent for new innovation. With over 100,000 English-speaking engineers graduating each year, India is an attractive destination for global research and development. The country!s huge population and strained resources result in innately competitive, supremely enterprising consumersan essential attitude for navigating the country!s often frustrating levels of red tape and corruption.

R&D in India: Innovative global companies are discovering research and development advantages and opportunities in India. The MAC 400 is General Electric's new portable electrocardiogram machine developed for rural areas where electricity is not always readily available and where patients cannot easily travel to urban diagnostic centers. The MAC 400 was designed by a team of Indian engineers at GE!s John F. Welch Technology Center in Bangalore. The 50-acre campus employs 3,500 scientists and engineers and is GE!s largest research and development center outside the U.S. In addition to medical devices, the center develops patented advancements for aircraft engines and locomotives. (Bloomberg Business Week, February 11, 2009) Resourcefulness: Jugaad is a Hindi term referring to the ingenuity of citizens living in resource-constrained environments. Jugaad Urbanism: Resourceful Strategies for Indian Cities is an exhibition curated by Kanu Agrawal at New York's Center for Architecture. It showcases everyday innovations of slumdwelling residents and the designers and architects who work around them. The exhibit presents an everyman take on modern urbanism in India. (Fast Company, February 2, 2011) Digital Green is one of India!s most innovative companies. To reach the legions of Indian farmers who ignore instructional media from the agriculture industry, Digital Green has turned the camera over to more trusted teachers: fellow farmers. Select villagers film themselves demonstrating new agricultural techniques, and thenafter checking for accuracythe company presents the films to farmers via handheld projectors. (Fast Company, March 14, 2011)

Rules are made to be broken, or are they? Red tape and corruption thrives in India, and finding regulatory loopholes is generally perceived as smart. The most successful Indian businessmen are masters at government relations who find new business models to get around obstructive red tape. The Centre for Transforming India estimates that multinational corporations pay up to $500 million in bribes each year. Indians! approach to rules and regulations has deep cultural roots; dakshina were fees paid to Brahmins to conduct rituals, while lagaan were taxes in the feudal system that went to the Rajas. The government is making strides to curb corruption since the recent hunger strike protest of anti-corruption activist Anna Hazare. These include the set up of 71 fast-track special courts and removing ministerial powers for the discretionary allotment of land. (Financial Times, August 15, 2011 / Forbes, July 20, 2011 / Wall St Journal, March 30, 2011) Grassroots enterprises: After spending the whole morning trying to find a Blackberry service center and getting vague answers about repairs that might take a week, I investigated "Cellphoon reapars! in Juhu Market, Mumbai. In exactly six minutes, a nineteen-year-old had changed a part and cleaned and serviced the whole phone. He charged me Rs 500 ($10) compared to the Rs 30,000 ($600) I was about to spend on a new Blackberry. I went home having discovered the true entrepreneurship that lies at what we call the "bottom of the pyramid!. (Film director Shekhar Kapur, shekharkapur.com, July 17, 2010)

Buying power in India has expanded to new consumer segments: urban youth and women. India has the world!s youngest population with 65% aged between 20 and 40 years. Youngisthan (young India) is the first ever nonsocialist generation. It combines thriving aspiration with newfound affluence. Young people drive technology choices, are more in tune with global trends, are socially responsible and are environmentally conscious. More women are working and their incomes have doubled over the last ten years; now, they are exercising their increased spending power.

India!s young consumers are frequent shoppers. More than 81% of the country!s population is under 45, and these consumers are the most fashion-conscious. However, women from 41 to 50 are also big shoppers. (WWD, October 13, 2010) India!s urban population will grow to 590 million over the next twenty years, accounting for 70% of the countries GDP; as a result, incomes are expected to triple. The profile of this new urban audience is likely to be young, wealthier than previous generations, brand savvy, and although firmly rooted in India, increasingly international in outlook. Going for the Indian dream, where anything is possible, they will be looking to contribute to and benefit from a modern India. (India Shop Magazine, July-August 2011) A young luxury market: The profile of the Indian customer has evolved dramatically in terms of spending, preferences and aspirations. Today the average age of our buyer has dropped to 35, says Peter Honegg, managing director and CEO, Mercedes-Benz India. Other luxury brands like Montblanc, Tissot and Omega are also reaching out to 30-somethings. BlackBerry realized it was missing out on a market of young professionals. (Young people) aspired to own a BlackBerry when they rose up in rank; the demand was pent up, says Krishnadeep Baruah, director of marketing, Research In Motion. With a booming economy and a median age of 26, more young people will come to money in the next few years. The culture of young is cool will continue to rub off on older people who in turn will become savvier. (Economic Times, May 22, 2011)

The spending itch: Many companies today boast rising sales due to customers shifting to new technologies more frequently. Panasonic says that it witnessed an over 130% increase in sales of ACs this year due to the launch of its new Cube AC. Earlier, it was all about performance. Today customers want much more than that. Consumer attitudes about retaining products has changed, says Manish Sharma, director of marketing, Panasonic India. The trend is also visible in home dcor. Modern designs prompt consumers to go for a change every four to five years. (The Times of India, September 12, 2011) Young traditionalists: While India!s young consumers demand modernity, they also respect tradition. While repositioning the Dhanlaxmi Bank brand to appeal to a younger audience, the company had to convince the market that the bank was trustworthy as well as in tune with modern, busy lifestyles. Its new brand identity incorporates the date of formation. Once tradition and longevity had been established, everything else about the brand could be fresh and forward. (India Shop Magazine, July-August 2011) Safe spending: While under-40 consumers love the good life, it is not at the expense of financial prudence. Young Indians understand the importance of saving early in their life. In the past four years, professionals under 25 have notched up highest growth in many financial products, mutual funds (75%), health insurance (42%) or life cover (25%). (IMRB, TGI Study, March, 2011)

Women: The income level of urban Indian women has doubled in the last decade, leading to an increasingly affluent and independent female consumer. Women in urban India earned an average of Rs 9,457 ($215) per month in 2010, compared to Rs 4,492 in 2001. It is estimated that a third of India's 480 million jobs are filled by women, and many companies are tailoring their approach to this demographic. We have aligned our strategy, communication and products to women, says Kishore Biyani, founder of Future Group, which owns major retail chains Pantaloon and Big Bazaar. With the growing aspirations and financial independence of women, not only in urban India but in tier two and three cities, women are at the core of our business. Today!s woman is buying for herself and for her family. (Warc.com, July 28, 2011) The importance of family: India!s business community tends to be family-centered. Much of the Indian middle class has ties outside India, notes researcher Vatsala Pant. Our ties around the world are also family ties. Even the largest Indian firms, such as Tata and Reliance Group, are controlled by groups of relatives whose power is enhanced by their wide geographic reach. (Newsweek, July 25, 2011) Family vs. individuality: The Indian family sticks together and everything is shared. Personal computers are not personal and TV viewing is a family activity. Rising individualism tussles with family stickiness, with mobile phones providing much needed personal space. Blackberry Messenger is very popular with Indian youth because it is often tough for them to find space to be alone in their culture. Blackberry Messenger creates a quiet space to chat. And mobile phones have become personal diaries because they are not understood by the older generation. (Kaustav SenGupta, Insights from India, March 11, 2011)

Indian consumers can be fiercely loyal, and local cultural identity is an important factor. As a result, a large majority favors local brands or global brands with local flavor. Consumers are no longer willing to accept hand-me-down product designs from the West. For products to enter India successfully, they must be designed to meet local needs. Smart companies realize that redesign is best performed in the country, closer to target markets.

Going local: International brands know that going local is necessary to succeed in India. And apparel brands are taking it to the next level by also sourcing from within the country. This not only eliminates import duty and prices products more competitively, but also ensures that the latest fashions hit Indian markets faster. (The Financial Express, May 17, 2011) Consumers across Asia are becoming less loyal to banking brands and typically prefer to deal with local providers. Eighty-one percent think it is important to deal with local banking institutions; this number dips to 63% in developed markets. In India the numbers have grown from 75% in 2007 to 95% in 2011. Multinationals face a clear challenge in repositioning their brands; they need to invest in deeper localization of products, services and overall customer experiences. (McKinsey, September 5, 2011) Customization: Significant customization and localization of product lines that suit uniquely Indian preferences and customer budgets are essential to Marks & Spencer!s marketing strategy in India. The company realizes that color is very important to Indian customers. It offers threefold the color options for polo shirts in India compared to the U.K. Indian consumers are evolved in terms of fashion. They are aware of global trends and are looking for options at great value, says Martin Jones, CEO of M&S India. To ensure Marks & Spencer offers the right products at the right price to Indian customers, the company sources over half of its products from local suppliers. (India Retailing, September 13, 2011)

Word of mouth: Hindustan Unilever understands the need to get close to the customer. Its Project Shakti recruited 45,000 rural women as sales agents, turning them into micro entrepreneurs. These women perform a useful public service by teaching their neighbors about basic nutrition and hygiene. Lessons about the importance of hand washing are aimed to stimulate demand for Unilever soap. (The Economist, August 6, 2011) Recommendations by personal acquaintances are the most trusted form of advertising for Indians, followed by traditional advertisements in newspapers and on television, and also information from brand websites. Among Indians, a whopping 93% trust recommendations from people known to them, and 87% believe in editorial content. (Nielsen Global Online Consumer Survey, July 7, 2009) Brand loyalty: Indians do not exhibit the same preferences for foreign brands that Chinese consumers show. When Coca-Cola bought Thums Up, the leading Indian cola, it planned to kill the brand. But Coke!s local managers soon realized that Indians preferred Thums Up. Although the big bosses at the head office in Atlanta prefer Coke products to be the same everywhere, they had to give Thums Up plenty of shelf space next to its own bottles. (The Economist, August 6, 2011) Trust: Indians have always been conservative when it comes to giving out personal details, especially when it comes to money and finances. With so many online stores and brands trying to gain a foothold in the Indian market, the challenge of earning trust remains strong. Indian consumers are motivated only after they trust; when a company earns that, it sees success. (Internet and Business Online, July 1, 2010)

More culturally varied than China with 1,500 dialects and a multitude of faiths, India!s diversity defies easy one-size-fits-all approaches. Understanding and identifying differing preferences for consumer goods from region to region is the biggest challenge to entering and succeeding in the Indian market. As incomes rise, rural India becomes a new, largely untapped market that holds 70% of India's population, or nearly 750 million people.

Diversity: India is more demographically diverse than any other major country. Its population of 1.21 billion people comes in second behind China!s 1.3 billion. And due to the latter!s one-child policy, India!s numbers are expected to surpass China!s by the late 2020s. Already home to the world!s second-largest contingent of English speakers, India is destined to step into first place, ahead of the United States, by 2020. (Newsweek, July 25, 2011) The rise of rural India: An important development in Indian consumerism is the emergence of the rural market. Some 70% of India's population live in villages but contribute just 30% of the country's GDP. This is most likely why marketers have ignored rural consumers until now. This attitude is gradually changing as rural areas! share of consumer goods purchases rises to between 30% and 60%. (ZDNet Asia, August 25, 2011) Today, 80% of fast moving consumer goods categories are growing faster in rural Indian areas than urban locations. This growth means that marketing must undergo a change. Creating products especially for rural markets, having shopkeepers as advocates for brands, and preparing for a hectic pace of brand switching due to new, widely accessible arrays will be vital. (Nielson, July 14, 2011)

The chaos market: India has been described as a chaos market with many layers of opportunity beyond the obvious. Rural markets in particular pose a very different strategic challenge, primarily because of the dispersed nature of villages, the lack of infrastructure in rural areas, and the lack of electricity. Spending power in rural markets is not a challenge though; it is exactly what is giving rise to experimentation and innovation for new, quality, inexpensive products. (Ritika Murarka, Student, Welingkar Institute of Management and Research, Mumbai, India, July 30, 2011) Go with the flow: Along with this chaos, an outlook that destiny cannot be controlled has led to a go-with-the-flow attitude. Sir Mark Tully, a veteran BBC man in Delhi, sees a spirit of muddling through everywhere. Despite the chaos of congested traffic at an unmanned crossroads, somehow flow occurs. As India!s economy grows and the country modernizes, Tully sees improvement, but it might be messy. Social divisions are breaking down: Dalits, who long sat at the hierarchal bottom within Indian villages, say that as more of them get jobs, money or land, oppression is beginning to lift. In one village where an untouchable was a few years ago beaten for letting his shadow pass over someone of a higher caste, neighbors now find they can sit together for meals. (The Economist, September 10, 2011)

Innovating for villagers: The rural market has a growing appetite for basic consumer goods and communication technologies, including mobile phones, telemedicine, mobile banking and mobile apps for fishermen, farmers and community radio. While requirements differ between rural and urban consumers, marketers need to segment rural consumers in the same manner as they segment their urban peers, says Neha Gupta, senior analyst at research firm, Gartner. Some have taken the first step. Tata Teleservices and Qualcomm launched a mobile app, Fisher Friend, that provides weather and market information in local languages. And Nokia is selling low-cost mobile phones from vans in Indian villages to reduce retail costs. (ZDNet Asia, August 25, 2011) The dynamics of rural migration to urban centers is changing. We are going to see a reverse shift happening, where people are not going to come to urban areas in the same numbers as before because quality of life and opportunities are improving in smaller towns, says Asif Adil, Diageo. (The Indian Consumer, Spencer Stuart, 2008) Infrastructure development in India is a challenge. While road connectivity in rural India has increased from less than 40% in 2004 to nearly 70% in 2008, electricity connections and new road building are significantly behind schedule. And the reason is troubling. Beyond the frequently mentioned issue of land ownership, delays in hard infrastructure often stem from a lack of soft infrastructure, such as educated, skilled workers with project-management capabilities. (McKinsey Quarterly, February 2011)

India could become the first truly mobile digital society, with many favoring cheaper mobile phones to personal computers. The country!s base of 81 million Internet users is the world!s fourth largest. And while the typical Indian consumer has no personal Internet access, if the country!s latent demand for mobile content is unleashed, the total number of Internet users will increase more than fivefold to 450 million by 2015. Revenues from total digital consumption could rise fourfold to $20 billiontwice the expected growth rate of China.

The rise of digital content: Even though typical Indian consumers have no Internet access, they have a remarkable appetite for digital content. In fact, they consume an average of 4.5 hours of it daily across offline channels such as television, DVDs and CDs. And while they use mobile phones predominantly for voice services, a whole segment of business has grown around retailers essentially operating as physical iTunes stores, charging fees to load music and other content onto mobile devices. The net result is that while India is a relatively poor country, more than 70% of its urban consumers already spend about $1 a month on content and services through offline, unorganized retail channels. This market is estimated to be worth more than $4 billion annually. (McKinsey Quarterly, February 2011) Publisher Simon & Schuster has opened an India-specific unit, aiming to cash in on the country!s digital transformation. In India, the digital book revolution has bypassed e-readers and tablets to reach mobile phones, unlike in the U.S. and U.K. Everyone in India has a mobile phone, says Carolyn K. Reidy, president and CEO of Simon & Schuster. [There are] nearly 80 million educated readers between 15 and 35 in India, and nearly 20% of readers will switch to digital domains in the next decade. (Economic Times, September 22, 2011) Online shopping: India!s growing urban population will drive adoption of online shopping in volume terms. India!s younger consumers will spearhead this growth. Seventy-five percent of India!s current web population is under the age of 35, compared to 52% globally and 57% regionally. This technologically clued-in but increasingly time-starved generation is likely to buy into the benefits of online purchasing. Another influence will be the increasing numbers of working women. Online shopping will benefit women who juggle roles of traditional homemakers and modern-day salary earners. (India Shop, September-October 2011)

Growth of social networking: In India, there are five major categories of Internet usage (by active users aged 15 and above): email, social networking, finance, online travel and cricket. After email, social networking, which has now become part of everyday life for the majority of online Indians, ranks second with close to 43 million people using various networking sites each month. Facebook user numbers are increasing as well, totaling 26.6 million in June 2011, up from 24.9 million the previous month. Social networking is becoming a powerful consumer tool in India, providing consumers with a platform from which they can research and recommend brands and services. (India Times, July 15, 2011) Brand engagement and social media: Nearly 40 million Indians (67% of India!s online population) are using online reviews to inform purchase decisions. For the estimated 30 million online Indians who use social media, 78% spend more than 15 minutes per instance. Online activities performed cover a wide spectrum from entertainment and leisure games to discussions on products or services and researching prospective partners and future employers. (Impact Media, May 29, 2011) Plastic fantastic: India will climb to be one of the world's top five generators of noncash payments by 2017. While in emerging Brazil, Russia and China, cash remains king, in India the tide is turning as consumers increasingly conduct electronic payment transactions with plastic cards or, to a lesser degree, mobile phone applications. (TSYS, September 12, 2011) Rural Internet users: The total number of rural Internet users in India grew 30% to 5.4 million in 2010 from 3.3 million in 2008. Sixty-seven percent of these users access the Internet for music and video content, but also use it for educational purposes and for performing web searches. A lesser but still significant number of users use the net for learning about new farming techniques. (IMRB, September 8, 2010)

Create local champions: Treat India as an aggregation of markets rather than one market by itself. With increased globalization, regional variations will become more prominent and companies will need diverse strategic approaches to understand variances within different states and to concentrate resources on the most promising submarkets. Top cities Delhi and Mumbai are important but gains may also be had in tier two and three cities such as Ludhiana, Jaipur, Ahmedabad and Kolkata. Think glocal: Combining local traditions and values with an aspirational global outlook can transform brands into highly desirable commodities. Echoing a worldwide trend, endorsement by local celebrities, like Bollywood stars and local cricket players, enhances product demand. Think young: By 2020, the average age of the Indian consumer will be 29 years. Targeting a young consumer also appeals to an older generation with a young mindset. Be aspirational: Young urban Indians respect tradition but demand modernity. Retailers that embrace fresh thinking and are carefully attuned to the needs and desires of consumers and local market conditions will be well placed to establish consumer loyalty and competitive advantages. Innovate: In order to reach entrepreneurial India, innovation will be vital. The most successful companies will create products specifically for India!s huge mass market. The rise of sachet marketing, which offers smaller pack sizes at lower prices to less affluent shoppers, has aided the growth of the rural consumer market.

Create value: Indians are among the most price-sensitive consumers in the Asia Pacific region. When developing products or services for India!s mass market, fulfill aspirations but focus on high functionality. Above all else, offer competitive prices. Find a local partner: Be aware that foreign firms may have to look for partners to break into the Indian market, as foreign direct investment is still an issue. Source locally: Import duties have risen in recent years from 1015% in 2008 to 35-40% in 2011, so it makes sense to source locally. Even though manufacturing in China is cheaper, import duty makes those products expensive. A domestic sourcing strategy is essentially about making brands more affordable for price-sensitive Indian consumers. Challenges for the future: The three big challenges for India!s future are corruption (which has become endemic), skills (Indians may be young and energetic but many are ill educated), and a widening wealth gap (which risks social discontent). But unlike China, India is a democracy. It has well-tested ways to change governments peacefully. Right now democracy and demography are India!s biggest assets.

New Wealth http://articles.economictimes.indiatimes.com/2011-05-22/news/29571260_1_mercedes-benz-brands-trend http://articles.timesofindia.indiatimes.com/2011-05-25/india-business/29580826_1_job-prospects-justin-sargentconsumer-confidence http://www.business-standard.com/india/news/people-buying-more-despite-inflation-study/440557/ http://www.indiainfoline.com/Markets/News/Kotak-Wealth-Management-and-CRISIL-top-Pyramid-reportlaunch/5172910435 http://www.economist.com/node/21528626 http://docs.google.com/viewer http://www.livemint.com/2011/03/08233848/The-fastgrowing-segments-of-t.html Innovation & Enterprise http://www.businessweek.com/globalbiz/content/feb2009/gb20090211_273997.htm http://www.fastcompany.com/1723213/grassroots-innovations-from-urban-india-find-their-way-to-new-york-city http://www.fastcompany.com/1738533/the-10-most-innovative-companies-in-india http://online.wsj.com/article/SB10001424052748703313304576131792120382006.html http://www.theglobeandmail.com/report-on-business/international-news/global-exchange/financial-times/itoutsourcers-showed-path-through-indias-red-tape/article2129913/ http://www.forbes.com/sites/85broads/2011/07/20/do-you-have-to-be-corrupt-to-compete-in-the-bric-ask-cisco/3/ http://shekharkapur.com/blog/2010/07/a-blackberry-addict-discovers-grassroots-enterprise-in-india/

New Consumers http://www.indiashop.co/ http://articles.economictimes.indiatimes.com/2011-05-22/news/29571260_1_mercedes-benz-brands-trend http://www.indiashop.co/ http://articles.timesofindia.indiatimes.com/2011-09-12/india-business/30144717_1_home-appliances-mobile-phones-consumer http://www.warc.com/LatestNews/News/Female_shoppers_offer_growth_in_India.news?ID=28603 http://www.thedailybeast.com/newsweek/2011/07/24/india-s-most-important-exports-brains-and-talent.html http://www.trendpool.com/insights-from-india-young-consumers-and-mobile-phones/ Local & Loyal http://www.financialexpress.com/news/foreign-apparel-brands-localise-for-maximum-returns/790929/0 http://www.mckinseyquarterly.com/Financial_Services/Banking/The_changing_face_of_Asian_personal_financial_services_2855 http://www.indiaretailing.com/news.aspx?Id=6132&Topic=2 http://www.economist.com/node/21525427 http://blog.nielsen.com/nielsenwire/consumer/global-advertising-consumers-trust-real-friends-and-virtual-strangers-the-most/ http://ezinearticles.com/?I-Still-Do-Not-Trust-E-Commerce!&id=4585372 Diversity & Rural India http://www.thedailybeast.com/newsweek/2011/07/24/india-s-most-important-exports-brains-and-talent.html http://www.zdnetasia.com/india-taps-communication-tools-to-transform-villages-62301780.htm http://blog.nielsen.com/nielsenwire/consumer/rural-india-presents-notable-growth-opportunity/ https://www.mckinseyquarterly.com/Is_your_emerging_market_strategy_local_enough_2790 https://www.mckinseyquarterly.com/Can_India_lead_the_mobile-Internet_revolution_2746

Digital India https://www.mckinseyquarterly.com/Can_India_lead_the_mobile-Internet_revolution_2746 http://economictimes.indiatimes.com/news/news-by-industry/indl-goods-/-svs/paper-/-wood-/-glass/-plastic/marbles/simon-schuster-eyes-indias-digital-reading-space/articleshow/10077805.cms http://www.fitch.com/think/article.aspx?id=103 http://www.exchange4media.com/e4m/izone1/izone_fullstory.asp?section_id=4&news_id=42797&tag=35291 http://www.exchange4media.com/e4m/izone1/izone_fullstory.asp?section_id=4&news_id=42238&tag=34732 http://economictimes.indiatimes.com/news/economy/finance/india-has-the-potential-to-emerge-among-the-top-fiveeconomies-in-the-world-for-electronic-payments/articleshow/9950988.cms http://www.techtree.com/India/News/Rural_Internet_Usage_in_India_Soars/551-112795-643.html Further Reading http://www.imrbint.com/index.php?option=com_content&view=article&id=1&Itemid=2 http://www.thedailybeast.com/newsweek/2011/07/24/india-s-most-important-exports-brains-and-talent.html http://www.indiashop.co/ http://www.zdnetasia.com/india-taps-communication-tools-to-transform-villages-62301780.htm http://www.todayonline.com/Business/EDC110905-0000218/Kraft-driven-by-virtuous-cycle-of-growth-in-Asia http://www.economist.com/node/21528580 http://blog.nielsen.com/nielsenwire/consumer/promotion-seeking-asia-pacific-shoppers-present-opportunities/ http://www.economist.com/node/21525427 Related Reports The New Chinese Consumer Green Consumers The Tween Consumer