Reality check on Bharat
By Harry Kapoor
Click here to join FutureX Learning community on Whatsapp.
Today's read on the real India/ Bharat
Do you know how many people have iPhone in India? Do you know how many people purchase from Flipkart in a year?
And do you know how many people have access to the internet?
As privileged individuals, we often don’t understand the real India/ Bharat and that there are only a small %age of Indians who are actually transacting online.
Quick stats-
Population: 1.38 Billion
Internet users: ~550M
10M iPhone users (<0.1%)
54M annual e-commerce shopper incl. Flipkart, Amazon etc. (<5%)
In last 5 yrs, 15M cars were sold and 30M people went abroad for business/ tourism
To add
<50M users have credit card
<60M users have filed income tax return but only 14.6M paid any income tax
Which clearly shows that real paying capacity is with only the top 5-10% of India.
That said, growth for many companies is being driven by tier 2-3 cities as well these days and paying capacity of these consumers will increase over the years for digital purchases, at least for essentials.
~300M people have come on the internet in last 5 years with ever increasing internet usage (driven by increasing access, cheaper smartphones & cheaper data). Some of them will transact online in coming years for the first time, but who all and for what categories. These are things all of us should know if we intend to build or work with businesses in India and are curious to know what will sell and what will not. What do you think?
Sources and more links to deepdive: