'India's emerging affluents confident of biz growth prospects'

India's emerging affluent class is more confident about business growth prospects compared to its global peers on hopes of an improving economy coupled with a stable government, says a study report by Standard Chartered.
According to the report, "Around 90 per cent of respondents in India feel there are good prospects for launching and growing successful businesses in India, encouraged by a strong economy and government leadership as well as appropriate regulation."
In India, the study covered emerging affluents -- those with monthly household incomes in the range of Rs 80,000 to Rs 1,35,000 -- in seven major cities -- Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata and Mumbai.

Meanwhile, the emerging affluent class people across Asia and Africa are confident about their market's growth prospects, expect their incomes to rise, have clear spending plans, and are highly confident in achieving their long-term wealth goal.
As per the report in emerging markets, "On an average, 75 per cent of emerging affluents say they expect their home market's economy to grow in the next year. At 95 per cent, the emerging affluent Indians are the most confident."
The report further said that on an average as many as 87 per cent of emerging affluents believe they will achieve their 10-year wealth aspirations, whether it is to buy property or launch a business.

The figure is considerably higher in the developing markets, with at least nine in ten Indians saying they are confident about achieving their long-term financial goal.

The study further said, on an average 65 per cent of the emerging affluents have seen their household disposable income rise in the past year with India at the highest at 88 per cent along with Nigeria.
"These emerging affluent consumers are confident, ambitious and are driving wealth creation, which supports the long-term outlook for growth across these markets," Standard Chartered India Retail Banking Head Shyamal Saxena said.
The study was conducted across 7,000 emerging affluent consumers across seven of Standard Chartered's markets - Hong Kong, China, India, Indonesia, Kenya, Nigeria and Singapore in May and June.