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Sunday, January 3, 2010

India growth story on track

3 Jan 2010 ET Bureau

Pitch the question of sustained global recovery to a group of experts and cacophony ensues. Talk of India’s ride on the road to recovery, and the ‘yeah’s’ rings loud. This is the big Indian story for 2010.

If corporate India’s projections for this year are any indication for what is to come, Indian consumers are likely to return to shopping with a zest, returning home with products ranging from mobile handsets, slimmer TVs to ever cars.

Mind you, it isn’t that surprising given that India’s GDP is expected to grow at seven per cent and more in 2010, while most developed countries find themselves struggling to keep growth in positive zones.

While a Gartner research forecasts a 21 per cent growth in PC shipments in India for 2010 over the last year and whopping 41 per cent in mini-notebook segment, India’s continued journey of adding 10 million mobile subscribers a month for this year too, may make India an attractive destination for top telecom and technology giants.

And the growth for this year is not confined only to a few sectors. Car sales which remained positive in most part of the last year bucking the global recession, may look up further, whereas industry estimates suggest that consumer durables segment may post a smart 20 per cent growth this year, indicating that the Indian economy, primarily driven by domestic demand, may keep up the momentum of a swifter recovery compared to the rest of the world.

R Zutshi, deputy MD of Samsung India, says that the television industry will get a strong boost in 2010. “Within the television category, I expect the consumer preference for LCD/LEDs and slimmer displays to continue. The advent of HD broadcast with the Commonwealth Games too should contribute to the growth of full HD LCD/LED TVs,” he explains

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