Market penetration: India

This article aims at portraying the factors that are contributing to the growth of the consumer durable goods market, the production, penetration level of the consumer durables viz., Television, Refrigerators, Washing machine, and Air conditioners, their growth rate and market size and SWOC analysis of the industry.

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In the present era, new media has become a mainstay of information in the society which includes online and mobile media. Due to improved mobile technology, better internet connectivity and low cost of mobile phones and data plans, penetration of new media is increasing day by day in urban as well as rural India. It has also been providing the best opportunity to farmers to get new knowledge, ideas, information regarding agriculture like weather updates, marketing, crop insurance, government schemes etc.

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As is common in the region, India is a bank-dominated market (Figure 3), and the relative importance of bank assets as a percentage of GDP has continued to grow—partly as banking penetration has deepened with financial liberalization, and partly as a result of the ongoing need for deficit financing. However, the ratio of bank assets to GDP is still low by comparison with other emerging East Asian economies, indicating that India still has some way to go before its banking sector is fully developed.

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