Introduction

The market for goods and services has undergone a significant change over the past
two decades. Globalisation, upgraded technology and growth of service sector are the major
factors which influenced the growth of consumer markets. Indian consumer market comprises
of urban and rural market. The Indian consumer market shows a growth trend because of
factors like favourable population composition and increase in real income. Food, shelter,
clothing, durable goods, communication and transportation are the key areas in which major
consumption spending occurs.
Market size and leaders
Statistics shows that Indian consumer sector has grown at an annual rate of 5.7 per
cent in the past decade. The top Indian retail brands are Bata India Limited, Raymond Ltd,
Trent Ltd, V-Mart etc. The Indian consumer sector is highly fragmented and unorganised
sector has around thirteen million retail outlets that account for lion share of total consumer
market. About one fourth of consumer market is in organised sector.
Investments

Havells India Limited, one of the big shot in consumer electrical equipment
manufacturer is going to set up a new manufacturing unit in Bangalore.
Bosch& Seimens, home appliance manufacturer plans to manufacture more products
In India because of the growing demand.
ITC Limited introduced two consumer goods manufacturing units in west Bengal.

Government Initiatives
Union Budget 2016 comes up with various tax deductions for intermediary products to
help increase in local production and reduce import. Tax deduction is available to various
components for manufacturing battery, wired speaker, headsets, modem and set top boxes etc.
We need skilled labour for developing secondary sector in our country. So the government
plans to provide trainings to five billion people by 2022. As a part of it, government
introduced various transformational changes in educational sector. Their ultimate objective is
to create a skilled workforce. Introduction of Goods and Service Tax is also a part of this
developmental measure.
Road Ahead
Consumer markets in emerging market economies like India are going rapidly due to the
economic progress. Growth of e commerce market due to the growth of telecommunication
network will also lead to the development of Indian consumer market. The structure will also
change from the traditional brick and mortar structure to virtual market structure. Recent
surveys states that, with in one decade the number of middle class people increase and that
results in growth in consumer expenditure. Great change will occur in the junk food industry,
which India has a strong base of young customers and they will never try to experimenting on
cooking food. So the junk food industry will expand. Internet is an inevitable element in the
growth of consumer market.