Goldman And Apple’s Cook Are Correct on Indian Consumers: Chart

Apple Inc.’s Tim Cook made a beeline for India last month to join what Goldman Sachs Group Inc. says will be "one of the world’s most compelling" consumer stories for the next two decades. Data show they’re right: private consumption is now driving the world’s fastest-growing big economy, taking over from shrinking government spending and slumping exports amid the global slowdown. A good monsoon this year after two droughts stands to put more cash in the hands of Indian villagers, who account for almost 70 percent of the nation’s 1.3 billion population.

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