Will India Fulfill Its Luxury Potential?

Back from a whirlwind trip to Mumbai, India, BoF's editor-in-chief, Imran Amed reflects on the development of the local economy and the luxury goods and fashion market.

Beneath the frothy surface of non-stop events and parties, the Indian economy is stalling. Indeed, many business leaders and professionals from the luxury and fashion industry seemed despondent, saying the country has simply not been fulfilling its economic potential. For a few years — even amidst the throes of the global financial crisis — India’s economy was growing at 8 to 9 percent annually. But just yesterday came the announcement that growth of India’s GDP had slumped to 4.5 percent in the last quarter of 2012, the slowest growth registered in the past 15 quarters.

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Source: Right Brain, Left Brain | Will India Fulfill Its Luxury Potential? - BoF - The Business of Fashion