Indian Economy Watch: Confident consumers transform Indian economy

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Thursday, December 23, 2004

Confident consumers transform Indian economy

Urbanisation, growth in foreign direct investment and the service sector, and government plans to develop infrastructure point to rising spending in the world's second most populous country.

"India will become the third-largest (consumer) market globally in terms of volume in the next 5-10 years," following the United States and China, said V. Chandramouli, marketing head at Mirc Electronics.