Rich Indians Act Like Rich Americans

There are now about 1.6 million Indian households that spend an average of $9,000 a year on luxury goods, Time Asia reports.

Jimmy Choo and Gucci are just the latest makers of luxury goods to target India as the next hot growth market, joining Hermès, Christian Dior, Louis Vuitton, Cartier, Piaget, Tiffany, Moschino and others. Last October, Chanel launched its brand by organizing an exhibition and haute couture extravaganza in New Delhi’s tony Imperial Hotel with models flown in from Paris. That same month, Swatch Group introduced its Breguet watches (average price: $30,000) to India, which it hails as one of the world’s most enticing growth markets.
In January, the Indian government gave upscale retailers a further boost by allowing foreign companies to own a controlling interest of 51% in joint ventures operating “single-brand” stores. Although multinational chains like Wal-Mart and Tesco remain effectively barred from India, the move is expected to make the country more appealing to retailers like Nike and Cartier that sell their brands in exclusive outlets.

Here’s some of what Time failed to report: 86% of the Indian population lives on under $2 per day; 44% lives on under $1 per day. And 25% of the population does not have enough money to eat adequately.

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About David Burn

Native Nebraskan in the Pacific Northwest. Chief Storyteller at Bonehook, a guide service and bait shop for brands. Co-founder and editor of AdPulp. Contributor to The Content Strategist. Doer of the things written about herein.

  • memi wenta

    True but the key fact is that even that very very miniscule rich population that these luxury goods companies are hopefully targeting have the capacity to shell out unlimited $$$ for prestige and ego massages. Given that India is one of the most populated countries in the world this small but wealthy set of buyers can ammount to a sizeable figure and totally justify these companies in making a better late than never entry to India. As the divide between the rich and the poor expands, and the rich keep getting richer, the demand will continue to rise.

  • R. Srinivasan

    Indians are excellent individually; but, they do not know, rather they do not want to know how to make their brethren productive and make use of them; most of the Indian politicians, the businessman,the so called trade union leaders and the officials can not stand even oral appreciation of original thinking and findings; they are happy to bury the local talent and purchase “foreign” goods / services / even thinkings! Unfortunately, I see a similar trend developing even in the USA!! Several times the current level of business can be done in India.

  • bhattathiri

    The importance of Brahmacharya is clearly explained in Yejurveda. In this modern life very few only understand this and practice it. All Vedas and other scriptures of Hinduism lay great emphasis regarding Brahmacharya. In vedic period a student is also known as Brahmachari. By preserving the energy, strength and vitality of mind and various organs one can lead a happy, energetic and healthy life. The mind will be clear and brain will superb for a Brhmachari. It enhances the strength, life span and health since it is the mine of all virtues .Brahmacharya is the dam of all pleasures of life and only learned people keep it and their power and life increases and all sickness is destroyed. It is easy to preach and to practice is very difficult. One should try to be always in the company of noble people and control their senses as far as possible to get the actual reward of human life. A man is known by the company he keeps. If one always move in the company of good, learned and noble ones there is no doubt that he can be one among them one day. Company is contagious and man changes his colors accordingly sooner or later. He cannot remain unaffected for long best company means not only noble people but also good books written by great scholars, Sages, Saints, Prophets, Rishis, and Munis. These contain vast treasures of wealth and will make one so rich that the worldly riches would appear very insignificant. One of the verses in YajurVeda state that taught people who are actually endowed with divine powers should do two things in this world. One is that they should propagate the teachings of Brahmacharya and control of senses so that people may become strong and healthy leading a full vigorous life. Next thing is by education and practice thereof, they should teach one and all how to develop their inner strength and power so that people may enjoy their blissful life fully in all respects. In another verse it is stated that such people who abandon the company of bad people and give up all bad evil habits and keep away from immoral life increasing their vitality beget good children, they strength and glorify their race and their country.
    Brahmacharya will give the power to face and solve any problems as a boat can ferry people through turbulent waters of the sea. A Brahmachari will be liked and respected in all the societies and meetings. In one verse it is explained that the age of a boy begins at twenty-sixth year and for a girl it is seventeen and up to this period they should practice Brahmacharya at any cost and can get married. Those who get education following the rules of Brahmacharya, they shine like sun are quick in all what they do, like a hawk and become the hallmark of respect, enjoying their life skipping like a deer.
    In the student life it would be better to preserve their vital fluid which is the life thread, so that they can utilize their energy and strength for their education and learning. In vedic period student is imparted with all the knowledge right from the Earth to the sun and in this way all divinity reside in his body and such students in future will assets to their country and world. They will have harmony of the head, heart and hand in such a way which will be beneficial to the society as a whole. It has been truly said that if our hearts are strong, our heads are right in vain. A person without education is beast and a person without Dharma is like a beast.
    Education and knowledge are like two eyes of a person which enable him to see things correctly and assess his own position. The purpose of education is to make man what he ought to be.
    According to Vedas education on arts and material science is not enough and because major portion of achieving perfection can be achieved by studying spiritual science. The aim of life and education is that we may live a new life in the realm of self and the creation, with harmony and happiness and will become virtuous. Every second of the life should be fully utilized so that there is no room left for idling. It may be noted that ?An idle mind is a devil?s workshop.? Of course relaxation and enjoyment should be there along with study to keep one fit and fresh and ready to face any challenges of life.
    If proper education is not given to children parents become enemies since they get isolated in society. Teachers should take utmost care for understanding to develop good character and affection along with studies. They should be taught that all women are like mother, sister or daughter according to their age and they should be protected whenever necessary.
    In Vedas it is also stated that
    Not to earn wealth at the cost of others pain and suffering
    It is not good to be fatigue self too much both physically and mentally.
    Hard-work is the keystone to virtuous earning with the sweat of one?s own brow, not by lottery, speculation and gambling.
    Don?t do anything undesirable and harmful to the society
    Acquire knowledge which can?t be stolen away by thieves than material wealth.
    A great scholar of ancient India Sri Pathanjali’s in his teachings explains the importance of Brahmacharya and it is studied by foreign scholars and one such famous scholar
    Dr. Louis an eminent physician opined that most precious atoms of the blood
    enter into the composition of semen (in his book Chastity) . So preservation
    of semen by practicing continence helps the better development of brain ,
    body, and mind .Dr. Nicholas says that the best blood in the body goes to
    form the elements of reproduction in both the sexes .So if anybody waste
    semen he is loosing the best part of the blood and he becomes weak physically and
    intellegently. If preserved he becomes strong, intellectual, heroic and powerful.
    Brahmacharya can be practiced by married people also. Chastity and fidelity are the foundation on which a strong and happy marital relationship stands and should be understood by husband and wife. In Srimad Bhagavatham a holy book of Hinduism it is clearly mentioned that practice of brahmacharya is also one of the important duties in married life and it is waived only for the purpose of procreation, austerity, purity, contentment and friendliness towards all. (11.18.43)
    Ancient Rishi of India Pathanjali also says in his Yogasutra
    that CONTNENCE IS LIFE AND INCOTINENCE IS EQUAL TO DEATH.
    LORD SHIVA in the Jnanasamkalani Tantra says that ” The wise do not regard the
    ordinary forms of asceticism as real asceticism. Continence is the highest
    asceticism. He who is a continent is equal to God.
    So especially youth in whom the future of our country rests, should practice
    celibacy as far as possible to lead the country and countrymen to have a prosperous future.
    Ref .Rig Vedia, Yajur Veda, Bhagavad Gita, Yogasutra, Upanishaths, Tantra Texts, Srimad Bhagavatham

  • indian_guy

    Posting late….
    “86% of the Indian population lives on under $2 per day; 44% lives on under $1 per day. And 25% of the population does not have enough money to eat adequately.”
    Rupees 90 ($2) buys you 4 full meals, Rs 45 ($1)buys you 2 full meals in India. Still 25% go hungry…… ….madrassa logic.

  • http://www.krishnacsience.com avadhuta

    Ram Ram
    Poverty and undernourishment in India is due to bad economy. There is enough land cultivate from which all people could live nicely. Depriving people from land produces a class of poor people and many are committing suicide.