Demographic Environment
INDEX
1. Executive Summary 3
2. Demographic Environment 5
Population 5
Education 7
Life Style and Attitude 9
Income 12
Gender 14
Rural Urban 17
3. 2009 Projection 19
4. Industry: Banking Services 21
5. Firm: ICICI Bank 24
EXECUTIVE SUMMARY
Most of today’s consumers grew up in the 70’s and 80’s, when austerity was used to be considered as virtue and indulgence as sin. However, those who grew up post 90’s are global in character and aspirations. They don’t hesitate to go for a foreign holiday and later pay in installments or pay a premium for a grand face makeover. This apparently simple change of mindset has brought about a revolution in the Indian Marketing scenario.
Between 2007-2027 roughly 40% (559 million) of the counties population will stay in the 20-44 age group. This productive, high earning, high spending and high saving segment of the population will have very little dependants (parents and children) to take care of. India’s dependency ratio is set to fall from 61% to 46%. In the next 20 years, yearly consumption is estimated to be around 1.5 trillion, the fifth largest consumer market in the world. As India moves into the peak of its demographic dividends, early experiments, like Unilever’s website for girls and ICICI banks new and far reaching mobile banking application are harbinger of India’s biggest transformation.
India has a population of approximately 1.136 billion people, comprising approximately one-sixth of the world's population. This population is remarkably diverse; it has more than two thousand ethnic groups, and every major religion is represented, as are four major families of languages (Indo-European, Dravidian, Austro-Asiatic and Tibeto-Burman languages) as well as a language isolate. Only the continent of Africa exceeds the linguistic, cultural and genetic diversity of India....
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