Home / Knowledge / News / Textiles / Indians most confident about their economy: Report
Indians most confident about their economy: Report
27
Oct '15
 Confidence in home market
Confidence in home market's growth prospects for 2016/Standard Chartered
Emerging affluent Indians are extremely confident about their country's economic prospects for the next year, citing a strong economy, strong government leadership and appropriate regulation, finds a recent Standard Chartered report.
 
“The new government has brought inflation under control. Signs of economic growth and improved international relations are now visible,” says 'The Emerging Affluence Report 2015', a study of 7,000 emerging affluent consumers across China, Hong Kong, India, Indonesia, Kenya, Nigeria and Singapore.
 
For emerging affluent Indians, the rising incomes are paving way for increased spending, with overseas travel being the top priority in the next five years. However, the long-term wealth goal is to buy property, the study finds.
 
The study is significant because “As economic power continues to shift eastwards, these increasingly affluent, urban consumers in Asia and Africa are a key source of future demand for companies around the world.”
 
Generally, the emerging affluent believe their market offers good job opportunities and future prospects for the younger generation. This is particularly the case in China, India and Indonesia, according to the 23-page report.
 
The trend of increasing incomes is expected to continue next year. Nearly two-thirds of the emerging affluent have seen their household disposable income rise in the past year, with the figure significantly higher in China, India and Indonesia.
 
The emerging affluent plan to save more of their disposable income next year, primarily for emergencies and retirement. On average, they expect to save 30 per cent of their total household income, up from 26 per cent in the past year.
 
The emerging affluent in the developing markets (China, India, Indonesia, Kenya and Nigeria) are extremely optimistic about achieving their 10-year wealth aspirations. Although, confidence is slightly lower in Hong Kong and Singapore, the majority still believe that they will achieve their goals. 
 
Further, the levels of long-term confidence among the emerging affluent is typically greater than their confidence in the short-term growth prospects for their home market. (RKS)
 

Fibre2Fashion News Desk – India


Must ReadView All

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

Indian minister urges apparel industry for dumping data

Textiles | On 22nd Jan 2018

Indian minister urges apparel industry for dumping data

Indian textiles minister Smriti Irani recently urged the apparel...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search