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India Versus China Economic Growth

 

India Versus China Economic Growth Path Since 1980

Exhibit 6-1: India rapidly catches up to China in population

China and India Population Trend.png

Source: IMF WEO Database October 2014, Equity Communications

Exhibit 6-2: GDP growth in China outpaces growth in India

China versus India GDP Growth Rates.png

Source: IMF WEO Database October 2014, Equity Communications

Exhibit 6-3: China leaves India behind

China and India GDP per capita.png

Source: IMF WEO Database October 2014, Equity Communications

Can India play catch-up?

Many people believe India is the next China in terms of economic growth potential. If India achieves even half of what China has achieved in the last 30 years, it will be massive for consumption of precious jewellery in the country.

For one thing, demand for precious jewellery is already formidable because of strong cultural traditions and yet 95 percent of adults in India possess wealth valued below US$10,000, according to Credit Suisse.

Exhibit 6-4: India’s adult wealth pattern

India's Adult Wealth Pattern.png

Source: Credit Suisse Global Wealth Report, 2013

With further economic growth a large number of Indians will move to higher wealth bands. This will lead to 

an acceleration of precious jewellery consumption.

Links to Pages on India Jewellery Market

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