Women Workforce

Numerous factors, including better health care and greater media focus are allowing women in India, in both urban
and rural areas, to exercise greater influence on their families and society as a whole. The most important factor,
however, is educational opportunity. Between 2005 and 2015, enrolment of girls in secondary education increased
from 45.3% to 81% and in Fiscal 2019 was higher than enrolment of boys. Higher education has also seen an
increase in women enrolment, with almost 20% of women pursuing higher education studies compared to 22% of
men.

These changes are expected to have a broad impact on societal factors, including workforce demographics and
economic independence for women. The share of women workforce in the services sector has increased from
17.5% in 2010 to 28% in 2019. The overall share of working women increased from approximately 14% in 2000
to approximately 17.5% in 2010 and to approximately 27% in 2018.

Urbanization

India has the second largest urban population in the world in absolute terms at 472 million in Fiscal 2019, second
only to China. However, only 34.5% of India's population is classified as urban compared to a global average of
54%. It is the pace of India's urbanization that is a key trend to note for implication on India's economic growth.
Currently urban population contributes 63% of India's GDP. Going forward, it is estimated that 37% (541 million)
of India's population will be living in urban centers by Fiscal 2025. Urban population is expected to contribute
75% of India's GDP in Fiscal 2030. This is expected to continue with approximately 50% of India's population
expected to be living in urban centers by 2050 and contributing approximately 80% of India's GDP.

Increasing Urbanization

Urban Population (% of total)

50.0%

og 30.9% 32.8% 33.6% 34% 24.5% 25% 37.0%

27.7

    

2000 2010 2015 2017 2018 2019 2020 2025P 2050P

Source: World Bank, Technopak Analysis
Urbanization is also creating two trends that are impacting India's domestic consumption habits:
Growing Middle Class

The households with annual earnings between US$ 5,000 to US$ 10,000 have grown at a CAGR of 10% from
Fiscal 2012 to Fiscal 2020 and their number is projected to further double by 2025 from 2020 levels. The
households with annual earnings between US$ 10,000 to US$ 50,000 have grown at a CAGR of 20% between
Fiscal 2012 to Fiscal 2020.

Increase in number of households with annual earnings of US$ 10,000 to US$ 50,000 has been leading to an
increase in discretionary spending on food and beverages, apparel and accessories, luxury products, consumer
durables and across other discretionary categories. The consumption pattern also has moved towards higher spend
on branded, high quality food products, ready to eat / on the go categories etc.

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