A Sneak Peak Into Future

“Change! Change! Change!” Before you make any-more guesses, I must tell you that this is not about the global climatic change of changing trends in fashion, no more the rising and falling stock markets than the drift from 'K' serials to 'aparadhi kaun' types. It is the changing mega trends that have become the trademark of India's future. “Mega” because they cannot be easily reversed and have large ripple effects.

Expansion in every dimension: The Indian economy in general was mostly small. Remember that the Ambani family wealth seven years ago was about 5,000 crores – same as some first generation entrepreneurs. Take the Telecom market which has come a long way from 5 million connections to 180 million now. Foreign companies have for long bet on Indian people and it paid off. Now the market is working too! This implies more and more goods and services being India centric.

The much talked about and anticipated middle class is finally acquiring true scale. By 2006 the number of families earning more than Rs 2 lakh reached 100 million compared with 61 million in 2001. By 2010 it is expected to reach 173 million. Marry that with growing urbanization and no points for guessing; well over a third of all Lok Sabha constituencies will have a sizeable middle class and urban voter base. Not only be growth in consumption, it would lead to different politics all together. The middle class will demand reliable power, clean water, and comfortable mass transport systems. Most importantly, this will change the face of the educational scenario of the country. Owing to globalization, students and professionals are interacting with their counterparts all over the world in a coherent manner. The Nuke deal is a solution to Indian bombasting energy demands. The foreign trade component of India’s GDP, is now about 55%. There is greater self confident growth.

Considering the fact that half of India is under 25, a higher percentage of people will be in the working age till the mid 21st century, but this is only one facet. The other is: “Youngistaan” adapts faster to new trends and hence marketers are encouraged to focus on low cost products and services (we're broke, after all!).

The negative aspects include steady collapse in the country’s governance and politics shooting off the tracks, but the only thing that can be said about it is: “It depends”. After all, it’s the journey that matters in the end.

(If I missed something don't blame me, I might have “changed” my mind).