The timing of Label Summit India 2006, scheduled for
February in the country’s financial capital is perfect as it
showcases its products at a time when India is beginning
to open up. Thanks to the retail push that the government
is giving recently, big brand owners such as Wal-Mart,
SABMiller, and many others, have been negotiating with
the government, and India is set to allow foreign
investment in retailing.
According to sources at Wal-Mart, the average urban
household income in India is about $3,000 a year, roughly
in line with China, and the consuming class has grown from
35 million families in 1996 to an expected 80 million this
year. That’s roughly in line with the US.
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