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Opening the door to India’s booming consumer market: a great opportunity for Japanese SMEs
India’s economic landscape is not only evolving; We are moving forward at an unparalleled speed.
Goldman Sachs predicts that India will surpass even the United States to become the world’s second-
largest economy by 2070, rewriting the story of global economic power. India is predicted to become
the world’s second largest consumer market, with consumers increasing from the current 529 million
to 773 million by 2030. This growth is driven not by exports, which is a common trajectory for many
Asian economies, especially China, but by strong domestic demand. This demand is centered on the
middle class, whose income level is rising. The growing middle class is expected to account for
approximately 60% of the population by 2050.
Japanese small and medium-sized enterprises (SMEs) have a unique advantage in this dynamic and
rapidly expanding market. Synonymous with quality and innovation, your products are perfectly
aligned with the demands of India’s growing consumer base for premium and distinctive products
across a wide range of categories, from fashion to technology.
The perception that the Indian market is difficult due to economic, human and experiential
limitations is a myth waiting to be debunked. The reality is much more welcoming, with a cost-
effective and low-risk path already being paved by a number of international companies from
Western countries and China who have successfully penetrated and established markets.
To learn more about the opportunities available to your company in the Indian market, please contact
us at mktrsch@gol.com.