January 28th, 2012 
Ziaulla Namani
PricewaterhouseCoopers (PwC) today said India’s middle class will grow in size to become a USD 1 trillion opportunity to be tapped for various consumer-oriented industries.
The country’s total population will be around 1.36 billion by 2021 of which middle class will account for 570 million. The demographics will result in higher aspirations which will have to be served by companies, the consulting firm’s Executive Director, Shashank Tripathi, told reporters here.
Companies in the retail and consumer goods, telecom, financial services, industrial products, and healthcare and pharmaceuticals space can benefit from this opportunity, he said.
Even though Asia’s third-largest economy will urbanise faster, a majority of the demand for this USD 1 trillion opportunity will come from the rural areas, Tripathi said, adding that aspirational people indulging in vocations beyond agriculture will contribute to the demand.
Companies will have to pull up their socks and incorporate changes in product designs to make more disruptive offerings, work towards creating scalable business models and create a trust around the brand for leveraging on the opportunity, he maintained.
PricewaterhouseCoopers (PwC) is a global service firm, headquartered in London, UK. It is the world’s largest professional services firm measured by revenues.
PwC firms help organisations and individuals create the value they’re looking for. It has network of firms in 158 countries with close to 169,000 people working.
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