Get a glimpse into the growing graphics market in India, a country with billions of people and millions of opportunities in digital imaging.
It is human nature to remember the leader, numero uno, the first-place finisher. And it is almost second nature to glean over—even immediately forget—the runner-up or the second in command. Sports fans love reciting past championship winners. We hear about Nobel Prize recipients, but rarely much about those who almost won. And I would be surprised if anyone could name more past US vice presidents than past presidents.
So why all of this mention of second place? Well, there's been a lot of talk recently about China and the impact that Chinese companies will have—especially on the global wide- and grand-format markets for inkjet printing. China lays claim to the world's largest population and the fastest growing global economy. And China's more than 25 domestic manufacturers of inkjet printers and an equal numbers of suppliers of both inkjet ink and inkjet media make it very difficult to ignore.
But what impact will India, the country supporting the world's second largest population and the second fastest growing global economy, have on the graphics industry? And how will it differ from the impact that China has had and possibly will have? I will try to answer these questions and provide my own predictions on India's future impact in the global wide- and grand-format-graphics industry.
A big market—but how big?
With 1.1 billion people, India's population is the world's second overall largest. It is also the world's largest English-speaking population.
India's GDP grew by an estimated rate of more than 9% in the first quarter of 2006, making it the second fastest growing major economy. But to be more accurate, India supports the fourth largest economy as measured by purchasing power parity and the twelfth largest economy as measured in terms of the US dollar exchange rate. But just how big is the graphics-printing industry in India? And what exactly does this mean for those companies serving the US market? The answer to both questions is that nobody really knows for sure.
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