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Q.

There is a perception that Indians are buying more cars and gold bars and jewellery than any one else in the world today. Your views on this?

Asked by Good Citizen, 26 May '10 03:55 pm
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Answers (2)

 
1.

Well, probably Indians are second to China in this regard. The reasons are
(1) Higher disposable income among people due to robust economic growth of average 8% p.a. for the last two decades and still going strong despite economic recession elsewhere. India has weathered the recession fairly well and has come out rather unscathed whereas both the U.S. & E.U. are still on free fall. Check the recent E.U. crisis.
(2) Easy availability of credit and installment facilities from Banks and non bank financial institutions in addition to several car companies who also offer financial facilities and incentives to car buyers.
(3) It is an open secret that Indians are the largest gold buyers in the world.
(4) Interestingly, Indians today view gold as an investment with a view to make hay while the sun shines. Gold bars are bought in large quantities by the retail investors who still have trust deficit with the stock market. Moreover, gold as an investment has been paying a high dividend co ...more
Answered by Tony Fernandez, 26 May '10 04:37 pm

 
  
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2.

Yes it is true,now Indians believe in more spending than saving in the Banks.
Answered by krishna bhojwani, 26 May '10 04:02 pm

 
  
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