Jugaad, this colloquial word, reflects the ingenious Indian mind that solves problems by hook or by crook. Entrepreneurial dhaba owners in Punjab use washing machines to churn buttermilk; huge pedestal fans are bought every wedding season to sprinkle rose water during weddings; and millions of users use their cellphones disappointingly only to send ‘missed calls’.
Global companies are anything but snobbish towards Indovation, while DHL launched mango express to satisfy the cravings of the homesick NRIs, French brand Garnier combined shampoo with the oil to reassure the die hard ‘champi’ believers who shied away from chemical based shampoo. I doubt if pure vegetarian toothpaste would cross the stage of product development to justify its existence anywhere else in the world.
Merely customizing the pizzas and burgers to the Indian palate may or may not cut ice with the consumers who relate better to the nostalgia of Indian summers and refreshments. through “ghar jaisa” nimbu fresh.
If the numbers and purchasing power of the middle class are leaving you giddy headed, then take a deep breath to welcome the unlocking of the rural masses through Indovations.
However, India has an astonishing demographic dividend where more than 50% of its population is below the age of 25 and more than 65% hovers below the age of 35. It is expected that, in 2020, the average age of an Indian will be 29 years, compared to 37 for China and 48 for Japan.
So we at wiTdom investment advisory are bullish on India for next 10 years.
Sr Vice President & Head –Equities
wiTdom investment advisory.