India's New Generation: Ambition and Consumption
The Indian upper-middle class is travelling more and more abroad. The younger generations in particular are drawn to a way of life and consumption they are not used to. They are also fascinated by the success and the hyper-mediatised life of the indian tycoons. Young Indians even before they enter University wish to start their own business but without knowing how. However the key thing is to possess the spirit of enterprise! With 55 billionaires India is at the top of the world super-rich list. And the number is expected to double by 2025. This figure appears to be in contradiction with the sobriety and even frugality which until recently characterized the Indian attitude to money. Now official statistics show that one third of the population lives below the poverty line and at the other extreme not even 0,01% belongs to the "high net worth individuals". Besides India could climb from its current position at as the 12th largest consumer market to the world's 5th largest by 2025. The number of shopping malls is close to 290 and the commercial offer which is provided has a major impact on India's young generation consumption habits. This generation is thirsty for consumption. And the desire to consume is also a powerful driving force for the Indian economy.