In an engaging interview at the 'BT at India 100 Summit,' experts discussed India's role as a global consumer hub. Led by Shailendra Bhatnagar, Editor (Markets) of Business Today, the session delves into India's emergence as a powerhouse of consumption, driven by technology and its implications
Sanjeev Krishan, Chairperson of PwC India, highlighted India's diverse society with distinct urban and rural preferences. He stressed that businesses must understand these intricacies to tailor products effectively and build strong consumer relationships
Sanjeev Krishan noted that India's consumption levels are high, and the young population seeks experiences alongside products. This shift in mindset adds a layer of complexity to consumer engagement
Kunal Bahl, Co-Founder of Snapdeal, emphasized the middle-class's role in unlocking India's consumer potential. This demographic, poised between affluence and scarcity, is tech-savvy and enthusiastic about novel products
Kunal Bahl predicted that by 2030, a significant majority of Indians will be online, transacting extensively. The tech-savvy middle-class holds the key to India's changing consumption patterns
Experts agreed that technology is reshaping manufacturing and distribution efficiency. Artificial intelligence and robotics would play a pivotal role in driving this transformation
Manish Sharma, CEO of Panasonic India, explained how AI could streamline production and enable data-driven decision-making. According to Sharma, AI is poised to be a game-changer in business operations
The discussion took a candid turn as experts addressed challenges hindering India's journey as a global consumer hub. Domestic production and logistics complexities came to the forefront of the discussion
Manish Sharma advocated for transformative strategies to enhance production and distribution. The experts agreed on the need for smart technology solutions to overcome challenges
The session concludes with a focus on India's progressive trajectory as a global consumer hub. It underscored the diverse consumer landscape, technology's transformative role, and the necessity for innovative solutions to pave the way for India's bright future in global consumption trends