So, who can afford luxury cars in India, a third world country?
It's true that the country is doing phenomenally well on GDP front, ranking at No.5 globally. Yet, as the traditional Indian phrase goes, most Indians still endure a hand to mouth existence. It refers to a life, where a person has resources just about to lead his life -or in simple terms, a tight budget all his life.
Only a fraction of Indians lifts themselves up from an ordinary life to earn millions and some billions, thereby upping their buying power.
It will be interesting to know which industry produces billionaires in the country.
A recent study lists out the industries which bring out billionaires among Indians.
So yeah, it's the pharmaceutical industry that produces more billionaires than any other industry put together. Two decades back, I remember reading stories about the rise of Ranbaxy lab, Dr. Reddy's, Biocon etc., in a business weekly. So it may not be a surprise that pharmaceutical has done exceedingly well over the years. The IT industry figures next, followed by FMCG, Chemicals and Petrochemicals, etc.,
Indian parents would do well if they encourage their wards for a career in pharmaceuticals.
Luxury cars such as Rolls Royce may beckon them sooner than later.