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India is the most populous country in the world and has a working-age population that is expected to exceed 1 billion by the next decade. As a result, the Indian consumer market is also set to grow and is forecast to reach a spending volume of more than 4 tn USD by 2030, as per BMI Research. Eastspring Investments sees significant investment opportunities in this change.
In a recent insight the asset manager lines out the different opportunities and drivers. As one, Eastspring sees the growing affluence and high levels of mobile penetration as a driving force behind consumption growth and changing consumer behaviour.
“The rising availability of affordable smartphones, greater access to information and online payment systems, as well as online promotions and personalised advertisements are helping to fuel online purchases”, writes Eastspring. “Greater variety from an expanding online seller base and a more efficient logistics network are also enhancing the online buying experience.”
Read more at eastspring.com/lu.
