India, China and The $10 Trillion Prize
India, China and The $10 Trillion Prize
Join us for a discussion on how we can better understand and leverage the potential unleashed by the immense markets of Asia’s powerhouses, India and China. Whether through direct engagement or otherwise, organizations across sectors are impacted by the powerful force that the sheer size and wealth that these markets are primed to represent. With nearly a billion middle-class consumers set to emerge in these countries within the next ten years, an understanding of this demographic phenomenon and its wide-ranging implications is crucial.
Who comprises these attractive markets in India and China, and how are their needs and wants changing with the dynamic global landscape around them? How can we better comprehend the forces that are driving the preferences and trends of this new generation across income levels, in both urban centers and rural areas? What does this mean for organizations operating in these two vastly different economies, and what consequences do these forces have for the rest of the world, from food inflation levels to global economic cycles?
Michael Silverstein is a Senior Partner and Managing Director at Boston Consulting Group's (BCG's) Chicago office. He is a leader of BCG's Consumer practice, and originated many of our qualitative and quantitative research methodologies. His in-depth research led to a number of books and publications, including Women Want More, Trading Up and Treasure Hunt. He is an expert in understanding and responding to consumer needs and dissatisfactions and helping large consumer companies to grow.
Abheek Singhi is a Partner and Director at The Boston Consulting Group, where he leads the Consumer and Retail practice in India. He also heads the Consumer Product Sector for BCG in Asia Pacific. He has nearly 15 years of experience in consulting in India, Asia and North America. He is a member of key industry forums and a member of the National FMCG and Retail committees of the Confederation of Indian Industry (CII). He has also closely worked with industry association and Government bodies in policy formulation. He is a frequent contributor to perspectives on the industry through industry panels and forums. He has also authored several reports on the Indian consumer and retail sector.
Adi Godrej is Chairman of the Godrej Group and the President of the Confederation of Indian Industry. He is Chairman of the Board of the Indian School of Business, and has been a member of the Dean's Advisory Council of the MIT Sloan School of Management, Chairman of the Board of Governors of the Narsee Monjee Institute of Management Studies and a member of the Wharton Asian Executive Board. He is a recipient of several awards and recognitions, including the Rajiv Gandhi Award 2002, the Entrepreneur of the Year for the Asia Pacific Entrepreneurship Awards 2010, and the Qimpro Platinum Standard award for business in 2011.
Patrick Foulis is India Business Editor for The Economist. Prior to this, he served as its Banking Editor and Finance Correspondent. He is the author of the 2011 special report on business in India and the 2010 special report on banking in emerging markets. He has also worked at the Financial Times, where he was deputy editor of the Lex column.
About the book
The $10 Trillion Prize provides the first comprehensive profile of the emerging middle class, primed to transform the global marketplace. It's estimated that by 2020, consumers in China and India will generate about $10 trillion of total annual revenue for companies selling to them.
This book explains who these consumers are — what they buy and why, how they think and shop, and how their needs and tastes are changing. It takes you into their lives so you can better understand what they want and what they're looking for. Insightful and backed by rigorous research, this book takes you inside the hearts and minds of today's emerging Chinese and Indian consumers, positioning your company to win as the next wave of global affluence reaches the marketplace.
The $10 Trillion Prize is written by Michael J. Silverstein, co-Founder of BCG's global consumer practice, along with Abheek Singhi, leader of BCG's India consumer practice, Carol Liao, head of BCG's China consumer practice, and David Michael, leader of BCG's globalization practice.
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This event falls under the BusinessAsia series, which highlights new developments and best practices in the corporate and economic world that bolster notions of corporate citizenship, including engaged leadership, innovation, and corporate social responsibility.
Previous events under this series include a discussion on Collaborating with Competitors: Driving Industry and Managing Dominance, with Kiran Karnik, Former President of Nasscom, Ashok Advani, Chairman and Publisher of Business India, Patrick Foulis, India Business Editor for The Economist, and Subir Gokarn, Deputy Governor of the Reserve Bank of India; and a discussion on Global Crisis: Whither India? with Shankar Acharya, Honorary Professor and Member of Board of Governors of ICRIER, Subir Gokarn,Deputy Governor of Reserve Bank of India, Surjit S. Bhalla, Director of Oxus Research and Investments, and TN Ninan, Chairman and Chief Editor and Business Standard Ltd.
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