If you ever doubted the spending power of China or India’s consumer base think again. According to the ‘United Nations 2011 Revision of the World Urbanisation Prospects’ report, India followed by China will see the largest spurt in population growth. The two largest developing Asian economies will create a huge marketplace for consumer durables to commodities, while also severely straining infrastructure, natural resources and the environment, according to the UN.
While both nations are reeling with social and economic constraints due to an already heavy population, the situation is only expected to get worse. With 497 million and 341 million people expected to join urban centers in India and China respectively, social issues such as poor quality health, education, food and water will become a looming problem. Both nations of late have also dealt with the consequences of a disgruntled populace who have reacted sharply against the party in power. While Anna Hazare’s conquest against corruption brought the country to a standstill, unrest in China’s western provinces is proving to be more than just a revolt. Recognizing the colossal chaos this can cause not only to the party in power but to the nation as a whole, leaders of both India and China, have publicly said that they are aware of the problem and policies need to be amended to avert social unrest from ballooning out of control.
According to the statistics released, India, China, Nigeria, US and Indonesia are expected to see the highest increases in population over the next four decades. India will add another 497 million to its urban population between 2010 to 2050, while China will see 341 million people moving into urban cities followed by Nigeria (200 million), the US (103 million) and Indonesia (92 million). The projected increase in urban population in India and Nigeria between 2010 and 2050 will be higher than that of the past 40 years – according to the report.