Money is relative. Something exhorbitant to me maybe chicken feed to another. So, its upto the moneyed people to do whatever with their money. Save it, spend it, inest it or waste it. Its nobody else's business. And, opening of the economy means everyone's welcome. Let pontification remain at the Vatican.
I think the author has made a very valid point. It is no longer the scenario in India where only the extreme rich can afford to buy these luxury items. On account of rising incomes and jobs creation within the economy now every working individual within the Rs 20K - Rs 50K (per month) can think of going for buying these luxuries. Also the potential holds very strong for the younger generation - (20-25) age group right now which would be earning a lot more 10-20 years down the line.
I don't think that the author is over-optimistic at all and there is no doubt that India will achieve the Super Economy status by 2050. I like this point very much which the author has made - ' The vast young population figures further prove the appetite and aspirational move to delve into luxury purchasing habits -- the potential is not immediate, yet it is visible and high. '
Also the other valid point is about 'Luxury'. You see the whole concept of luxury will die out within next 10 years as things get to reach of every individual. Luxury which is a perception and a desire right now would become a thing of the past as things get within the reach of every Indian.
Wat is it that the author is trying to say. so big deal that a host of luxury goods are avialable in indai. does the average man care? going by the price tags mentioned in the article only the very filthy rich can afford them. so we can have more ostentatious and garish displays of wealth in a country where a third of the population struggle to have 3 square meals per day. Jus goes to show how, day by day, India is becoming more and more like its ideal , the US. and losing touch with its soul. i don't see in the least how having such luxury goods in India will help the country to develop in any way. i suggest that if these luxury goods are going to be sold here they should be severly taxed, to the tune of 100%, and this revenue be used for building up a social security sytem that will benifit the common man.
there si wrong infromation in this article. Alcatel is not a GERMAN company but a French company . please make this change . it makes the article an inaccurate one
dear sir, while everyone would agree about the phenomenal growth of millionares in india, (probably an equal no. would be in the non tax paying bracket as well about whom we don't know), i still believe indians by and large believe in value for money. the brands which are jumping headlong into the market without realising this will soon have to learn it the hard way. unless they cusomise their products to indian market and price it sensibly, they will never make it big here. even millionares think before they spend absurd amounts like 1.7 lac for a jacket. money doesn't change the mindset, and probably the writer, or the brands for whom they are writing have not realised this. the article looks more like a propoganda for these companies than being an honest appraisal of the market. but again I think the indian customer has come of age, and can't be fooled by advertising and propoganda. they want value for their money, and that is the bottomline. i think these "luxury" brands will have to produce and price their goods in the indian context to make any impact on the market.
Thats why Indian Poor People are deprived of their daily bread because of this unequal distribution of money, which is conentrated in few people's hands and they are wasting this money in a such a way. Its really sucks....
NDA was right with thier words "India Shining".. hmmm but why these big indians are not thinking about our poor brothers, buying a jacket @1.7lakh is appereciatable but with this 1.7lakh u can provide cloths for 1000s of poor indians!
