A report by Boston Consulting Group says China and India will generate triple the growth of other countries from 2009- end to 2014
Emerging markets like India and China will see faster wealth creation in the future, says a report according to which global wealth grew a "remarkable" 11.5% in 2009 to $111.5 trillion, reports PTI.
Global management consulting firm Boston Consulting Group (BCG) in its 10th annual 'Global Wealth' report estimated that China and India will generate triple the growth of other countries from 2009 end to 2014.
The recovery in wealth, which offset the 10% dip in global assets under management in 2008, was driven by resurgent financial markets and increased savings, it said.
BCG projected that global wealth would grow at an average annual rate of nearly 6% from 2009 year-end through 2014, much slower than the sharp recovery last year but still higher than the 4.8% annual growth rate from 2004 year-end through 2009.
"There's no doubt that wealth will continue to grow faster in emerging markets, fuelled by strong economic growth," BCG partner and co-author of the report Tjun Tang said.
Asia-Pacific, excluding Japan, is expected to grow at nearly twice the global rate, raising its share of global wealth from 15% in 2009 to almost 20% in 2014.
However, the rebound in wealth does not mean "a return to business as usual," BCG said, adding that client trust and wealth manager performance are still lower than they were before the global economic crisis.
North America posted the largest absolute gain in wealth at $4.6 trillion (15%), but the largest percentage gain, and the second largest in absolute terms, occurred in Asia-Pacific (excluding Japan), where wealth increased by 22%, or $ 3.1 trillion.
Europe remained the wealthiest region. Its $37.1 trillion in AUM represented one-third of the world's wealth.
The number of millionaire households across the world rose by about 14% in 2009 to 11.2 million.
The US had by far the most millionaire households (4.7 million) followed by Japan, China, the United Kingdom, and Germany.
The appeal of King Khan with the kids will probably last in the very short term, and fizzle out pretty quickly
The Lever suits have a problem on hand. Pepsodent's market share has reportedly been steadily plummeting in the desi toothpaste market. They have tried many communication routes before, but clearly those haven't paid too many dividends. So they have done what all Indian marketers do when 'ideas' don't work. Send an SOS to a movie star.
And so, Shah Rukh Khan strikes it rich with yet another ad lottery. Badshah Khan is the new face of Pepsodent. Themed 'Papa & Pappu', the commercial features the mega star lecturing his little son on the importance of using Pepsodent, and brushing regularly. And the Lever managers must be hoping that getting the charismatic star into the act will encourage kids to treat brushing teeth as a fun thingy, and not a tiresome chore. The parallel thought being: dads must also get involved in child rearing. That image, of being an involved dad, Shah Rukh already enjoys in the public perception. So no issues with that part of the deal.
The problem really is this-for one, there isn't a product SRK doesn't endorse in the Indian market, so the brand-connect will be a tedious exercise. A whole lot of money will have to be blown on media spends (and that includes 360-degree media coverage if the idea is to promote dad involvement with kids as an ongoing exercise) if the brand stands any chance of a strong association with the actor. And even that's no guarantee for success. In the interim, SRK will sign up for a whole lot of other products, including kiddie products, so it's a tough battle ahead. Which is why even though he tries very hard to be funny (and we have to grant that to Shah Rukh… he can be very funny on screen), the appeal of King Khan with the kids will probably last in the very short term, and fizzle out pretty quickly. Ergo, Pepsodent isn't creating a solid brand property out here. Which is critical for a brand that is losing share and goodwill. Band Aid won't work when the order of the day is admission to an ICU.
Sorry, but I really think Lever has played out a bad card this time. They should re-visit their own Lalitaji campaign for Surf when Nirma was giving the brand a run for its money. That was an original, relevant and long-term property. SRK is a fly-by-night route. A pity, really. Because Pepsodent is actually a good toothpaste. Will be sad to see it vanish from the shelves.
Industrial production clocked double-digit growth for the seventh straight month, buoyed by manufacturing, capital and consumer goods
Industrial output rose 17.6% in April, up from 1.1% in April last year, growing in double digits for the seventh straight month, on good showing by manufacturing, particularly capital and consumer goods, reports PTI.
Manufacturing, which constitutes around 80% of the index of industrial production (IIP), grew 19.4% in April against 0.4% a year ago, according to official data released today.
Within manufacturing, capital goods production rose by 72.8% in April against a contraction of 5.9% a year ago.
Consumer durables rose by 37% against 17.6% same period last year.
The other two sectors-mining and electricity-expanded by 11.4% and 6% in April, respectively against 3.4% and 6.7% in the same period last year.
According to the data, of the 17 industries, as many as 15 showed positive growth in April.
If the rising trend continues in the remaining months of this fiscal, the economy will easily meet the targeted 8.5% growth rate in 2010-11, as agriculture is also expected to perform well on the likelihood of a normal monsoon.
Industrial production expanded by 17.7% in December 2009.
Even as industrial production expanded at a whopping 17.6% in April, finance minister Pranab Mukherjee today said he was hungry for more.
"My appetite is infinite. I would have been happier, if it was 20%," Mr Mukherjee told reporters after official data today showed the industrial growth was at a 20-year high.
"Capital goods (growth) I think, we are having it for quite some time", he said. Mr Mukherjee added the services sector was also expanding well and if monsoon stayed normal, then the overall impact on economy would be positive.