Wealthy side of China and India
Title: The $10 Trillion Dollar Prize: Captivating the Newly Affluent in China and India Author: Michael J. Silverstein, Abheek Singhi, Carol Liao, David Michael
Publisher: Harvard Business Review Press (October 2, 2012) Price: $18.64
No. of pages: 336 pages
The book presents details of the thriving Chinese consumer market and the rise of the Indian economy, analysing household spending, education levels and consumption patterns which provide key insights into the market conditions of the two countries. The writers visited China and India to study the economic indicators and better understand the business psyche.
The 300-plus page book has smart, actionable ideas along with interesting facts such as both countries will become onebillion middle class countries by 2020 and how the consumers of both countries will be buying products and services in this $10 trillion market. They examine what they describe as the driving spirit of consumerism and suggest why businesses should adopt a market segmentation strategy for business expansion. A key concept discussed is the delivery of value for money amidst poverty and austerity. Where many see China and India as a threat, the book positions the two neighbours as allies who can work towards regional harmony.