India among top prospective markets for luxe brands round the world

India among top prospective markets for luxe brands round the world

The latest report released by New World Wealth puts India among the top prospective markets for luxe brands worldwide, with as much as two-fold growth expected in this segment in the next 10 years. Various factors move in favour of India—the growing number of entrepreneurs, better education and a large English speaking population. The 10-year growth forecast for the country stands at 120 per cent. Other major contributing factors include strong growth forecast in the local financial services, IT, business process outsourcing, real estate, healthcare and media sectors. In particular, the cities of the future as given by the report are Pune, Hyderabad and Bengaluru. The other countries that feature high on the list of opportunity are Sri Lanka, Vietnam, Mauritius and China. “These markets are not yet fully developed and still offer strong opportunities for growth, especially in the luxury and wealth management space,” the report said.