Delhi CM inaugurates new ‘World Class’ Govt school at Sunder Nagri
The Sarvodaya school with 131 classrooms, seven laboratories, a library, two multi-purpose halls, and a conference room will run two shifts.
The CEO’s of several multinational brands, including Unilever, Mondelez, and Technology giant Apple, have pinned their hopes on India, with some of them terming the country’s market their key “growth driver”. This was evident in the June quarter earnings shared by these companies.
In the last financial quarter, Mondelez International, the owner of Cadbury, saw a growth of 27 per cent in its India business as compared to 19 per cent in China. Dirk Van de Put, the chief executive of the British multinational confectionery giant, said that “India is a key growth driver for us”, according to a business daily.
Tim Cook, the CEO of US tech giant Apple, which recently started manufacturing it’s latest iPhone 15 in India, also pinned high growth hopes from the Indian market. Cook said Apple was seeing high growth in India and described it as a “very important market” for Apple’s scheme of things.
The CEOs of several other companies including, Yum Brands, Samsonite, Skechers and Budweiser, also termed the Indian market of 1.4 billion people one of their fastest growing.
This strong growth of the Indian market is attributed to several factors such as the growing middle class, reforms, and rising incomes.
Growing middle-class population
The Indian middle class is growing rapidly and is expected to reach 500 million people by 2030. This is creating a large and growing market for consumer goods and services.
Rising incomes
The per capita income of India is expected to increase by seven folds in the next 25 years. The average daily income of Indians is rising, which is also boosting demand for consumer goods and services.
Increasing urbanisation
India is a country of 1.4 billion people, and most of them live in villages. However, over the last 2 decades, there has been a rapid rise in urbanisation, which is creating new opportunities for businesses in sectors such as retail, real estate, and infrastructure.
Government reforms and infrastructure development
Ever since India opened its economy in 1991, there have been constant reforms and infrastructure is being developed to create an ecosystem suitable for global businesses.
India is hoping to replace China as the world’s factory and the country has every potential – a stable and democratic government, large working-age population, and advanced technology. The Indian market is expected to grow significantly in the years to come, making it an attractive destination for investment and manufacturing.
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