Embrace India's Rich Tapestry

In the New India, aspirations are rapidly converging between urban and rural areas thanks to the internet and smartphones

- SURESH NARAYANAN

INDIA TODAY OFFERS a confluence of economic growth, a vibrant consumption landscape, and a diverse workforce. The World Population Review, an independent organisation, estimates that about one in every six people on the planet live in India. What awaits us are opportunities to shape the future as we marshal new ideas with a resolve for a resilient and better tomorrow.

The world continues to grapple with the widespread socioeconomic consequences of post-pandemic recovery, fluctuating commodity prices, geopolitical tensions, the conflagration in the Middle-east, and the climate emergency. Operating within this dynamic world, as organisations adroitly navigate the Black Swans and Grey Rhinos, I envisage the following opportunities that will set the agenda for the next five years.

Evolving consumer needs

India offers a rich tapestry of consumers distinct, different, and varied residing in sprawling cities, thriving towns, and vibrant villages. About 65% of our population lives in rural areas.

India is home to the largest GenZ population, which is exposed to a plethora of brands. It is eager to spend but also discerning when making purchase decisions. Besides, over 10% of the population is estimated to be aged 60 and above. The rapid transformation of the consumer landscape offers a diverse, aspirational consumer base in urban and rural India, combined with GenZ and ageing populations.

On the infrastructure front, between 2018 and 2022, India added 10,000 km of highway annually; 29 km of roads are built every day; and in the last nine years, the number of operational airports has doubled.