An October 2010 CII – AT Kearney Report estimates that the luxury goods market in India is estimated to grow an average of 21% from its 2009 base of USD 4.76bn, to touch USD 14.72bn by 2015
Nearly 22% of Indian consumers try foreign products and brands (McKinsey)
According to McKinsey, India and China will account for a quarter of the global luxury market by 2015. The growth of the luxury market in India will be even higher between 2015 and 2020, especially as more people come into the consumption curve
India currently has 62,000 ultra high net worth households, with an average net worth of 12mn Euros (USD 17mn). The number of such households is expected to more than triple in the next five years to 219.000, with each household boasting a net worth of about 16mn Euros (USD 23 mn), according to a 2011 study by Kotak Wealth and Crisil Research
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