Posted 4/16/2024, 9:30:09 PM
India's Rising Consumer Market Set to Rival China's by 2030, But Digital and Infrastructure Gaps Must Be Addressed
- India's consumer market is accelerating rapidly, fueled by a rising middle class, and is on track to surpass China's by 2030
- India has a younger population compared to China's aging population, giving it a demographic advantage
- However, India faces challenges like youth unemployment and unequal education access which could hinder digital innovation needed for commerce growth
- China leads in areas like advanced digitization, AI integration, and innovation which have driven its commerce growth
- For China to maintain leadership, it must expand focus beyond tier 1 cities; India must address digital concerns and infrastructure gaps
