Tuesday, November 6, 2007
Young yet promising Indian Economy
"A BRIC report has forecast India's per capita income would touch US dollar 800 by 2010 and USD 1,149 by 2015. But we have exploded this assumption as our per capita income has already touched USD 1,000 this year and expect it to touch USD 4,000 by 2025," the FM Chidambaram said on 6th November, 2007. He was speaking after releasing a book titled We are Like That Only: Understanding the Logic of Consumer India , written by Rama Bijapurkar.
Interestingly he noticed (means read also) that assumptions on Indian cell phone market given in book had already been proved wrong by consumers.
"It has been said that India's cell phone usage will not double to 400 million users from 200 million very easily. This assumption has been blown to smithereens. We are adding 60 million users annually," the Finance Minister said. The prediction went wrong before book came to the market !