MACROECONOMIC FACTORS

Spending preference of Indian population to change due to shifting population

demographics – rising number of millennials and generation Z

Real GDP Growth (%, 2015)

Source: Goldman Sachs
7.5 6.9
Fastest growing
large economies
Y-o-Y nominal
GDP growth of
Positive future – ~12%, compared
2.4
7mn with global
college graduates per year India average of ~5% China US

200mn – number of
connected smartphones in
2016 Macro Indicator (2015)

30% 27%
35%

$27bn

2017 © The Smart Cube. All Rights Reserved.

Annual gold demand, 20%
18%
2nd largest gold 31%
consumer
globally Population
1.2Bn 1.4Bn 0.3Bn
66% young population, India has a very young population, whose spending considerations are
Generation Z (% of population) significantly different compared with the older set of individuals – they focus more on instant
gratification, thus spending more on items including apparel and consumer electronics
Millennials (% of population)
compared with previous generations Source: Goldman Sachs

1
Source: ‘The New Indian: The Many Facets of a Changing Consumer’, BCG (March 2017); ‘Indian Consumer Close-up’, Goldman Sachs (June 2016); (continued in slide note)