8/1/2010 8:53:00 AM
50 Million & Growing Middle Class Households Driving Fastener Use in India
The population of India is estimated at 1.173 billion people – guaranteeing a massive market for fasteners.
Today there are 50 million middle class households and that number is expected to rise tenfold by 2025.
According to statistics compiled by European-based Fastener+Fixing magazine.
• Last year 1,830,000 passengers vehicles and eight million two-wheelers were built. More than US$100 billion will be invested the road network over the next five years. India is Asia’s fourth largest exporter of vehicles.
• A total of 35,000 kilometers (21,748 miles) of new railroad track is planned and passenger travel by rail in five years is anticipated to be four times the current figure.
• There are 600,000,000 phone subscribers in India and 100,000,000 handsets are projected to be produced this year. Telecom manufacturing is pegged at US$12 billion.
• Major domestic appliance brands are forecasting 35% growth this year.
• India is the world’s sixth largest energy consumer. There are major investments in the grid system, wind and solar power, gas pipeline network and offshore field development.
• Construction is being led by health care and education infrastructure investment. Growth in tourism leads to a forecast of 55,000 hotel rooms by 2013.
Those kinds of growth numbers are why UK-based Mack Brooks and Inter Ads Brooks will conduct the first Fastener Fair India April 16-17, 2011 at the Bombay Exhibition Centre in Mumbai. ©2010 GlobalFastenerNews.com
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