IIMB, HBP and BCG hold panel discussion on ‘The $10 Trillion Prize: Captivating the Newly Affluent in China and India’
A panel discussion on 'The $10 Trillion Prize: Captivating the Newly Affluent in China and India' was organized by the Indian Institute of Management Bangalore (IIMB) in collaboration with Harvard Business Publishing (HBP) and Boston Consulting Group (BCG) at the IIMB campus on October 9, 2012.
At the outset, Professor Dinesh Kumar, Chairperson Research & Publications at IIMB, welcomed the gathering and introduced the panelists, comprising:
- Vinita Bali (Managing Director, Britannia Industries Ltd)
- Srivatsa Krishna (Indian Administrative Service)
- J Ramachandran (Professor, Indian Institute of Management Bangalore)
- Michael J Silverstein (Senior Partner and Managing Director, BCG)
- David Wan (CEO and President, Harvard Business Publishing)
- Moderator - Abheek Singhi (Partner & Director, BCG)
Mr Abheek Singhi set the tone for the panel discussion by giving a brief presentation on the highlights of the book 'The $10 Trillion Prize: Captivating the Newly Affluent in China and India', authored by Michael J. Silverstein, Abheek Singhi, Carol Liao, and David Michael. He gave the overview and context of the unprecedented consumer revolution expected to take place in India and China over the next few years.
The panelists took the discussions forward, commenting on various dimensions of the emerging middle class, primed to transform the global marketplace. Already the world's biggest buyers of cars, mobile phones, appliances, and more, these consumers are eager for more products and services. In fact, it is estimated that by 2020, consumers in China and India will generate about $10 trillion of total annual revenue for companies selling to them. The authors had done extensive interviews and research over two years to discover who these consumers are and what they buy and why, how they think and shop, and how their needs and tastes are changing. A $10 trillion marketplace means success for everyone - the new Indian and Chinese consumers and the companies that will meet their needs.
The panelists also debated various issues such as entrepreneurship, education, environment and ecosystems, and business risks and corruption in India and China. They also provided insights on some of the terminologies of the book such as 'Paisa Vasool', 'Boomerang Effect', Triple Crown, etc and its connotations and implications for businesses and consumers.
A 250-strong audience comprising students, academicians, alumni, businesspersons, media and other guests benefitted from the panel discussion and actively participated in the Q&A that followed. The panel discussion concluded with vote of thanks by Mr Vinay Hebbar, Managing Director, Harvard Business School of Publishing (HBP), India.
Related Links:
How Companies can succeed in China-India Market
People will drive growth in India
IIMB, HBP and BCG hold panel discussion on ‘The $10 Trillion Prize: Captivating the Newly Affluent in China and India’
A panel discussion on 'The $10 Trillion Prize: Captivating the Newly Affluent in China and India' was organized by the Indian Institute of Management Bangalore (IIMB) in collaboration with Harvard Business Publishing (HBP) and Boston Consulting Group (BCG) at the IIMB campus on October 9, 2012.
At the outset, Professor Dinesh Kumar, Chairperson Research & Publications at IIMB, welcomed the gathering and introduced the panelists, comprising:
- Vinita Bali (Managing Director, Britannia Industries Ltd)
- Srivatsa Krishna (Indian Administrative Service)
- J Ramachandran (Professor, Indian Institute of Management Bangalore)
- Michael J Silverstein (Senior Partner and Managing Director, BCG)
- David Wan (CEO and President, Harvard Business Publishing)
- Moderator - Abheek Singhi (Partner & Director, BCG)
Mr Abheek Singhi set the tone for the panel discussion by giving a brief presentation on the highlights of the book 'The $10 Trillion Prize: Captivating the Newly Affluent in China and India', authored by Michael J. Silverstein, Abheek Singhi, Carol Liao, and David Michael. He gave the overview and context of the unprecedented consumer revolution expected to take place in India and China over the next few years.
The panelists took the discussions forward, commenting on various dimensions of the emerging middle class, primed to transform the global marketplace. Already the world's biggest buyers of cars, mobile phones, appliances, and more, these consumers are eager for more products and services. In fact, it is estimated that by 2020, consumers in China and India will generate about $10 trillion of total annual revenue for companies selling to them. The authors had done extensive interviews and research over two years to discover who these consumers are and what they buy and why, how they think and shop, and how their needs and tastes are changing. A $10 trillion marketplace means success for everyone - the new Indian and Chinese consumers and the companies that will meet their needs.
The panelists also debated various issues such as entrepreneurship, education, environment and ecosystems, and business risks and corruption in India and China. They also provided insights on some of the terminologies of the book such as 'Paisa Vasool', 'Boomerang Effect', Triple Crown, etc and its connotations and implications for businesses and consumers.
A 250-strong audience comprising students, academicians, alumni, businesspersons, media and other guests benefitted from the panel discussion and actively participated in the Q&A that followed. The panel discussion concluded with vote of thanks by Mr Vinay Hebbar, Managing Director, Harvard Business School of Publishing (HBP), India.
Related Links:
How Companies can succeed in China-India Market
People will drive growth in India