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

Apparel/Garments | On 22nd Mar 2017

Amazon India introduces 'A-Z GST Guide' programme

Amazon India has introduced a programme called 'A-Z GST Guide' to...

Textiles | On 22nd Mar 2017

Dyeing textiles with bacteria

As an alternative to toxic synthetic dyes, scientists are exploring...

Courtesy: BCG

Apparel/Garments | On 22nd Mar 2017

Consumption in India to touch $4 trillion by 2025: Report

Consumption in India is likely to triple to $4 trillion by 2025 as...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search