China and India Are an Opportunity, Not a Threat

HBR IdeaCast

Harvard Business Review

Leadership, Entrepreneurship, Communication, Marketing, Business, Business/management, Management, Business/marketing, Business/entrepreneurship, Innovation, Hbr, Strategy, Economics, Finance, Teams, Harvard

4.4 • 1.9K Ratings

🗓️ 27 September 2012

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

Michael Silverstein, cofounder of The Boston Consulting Group's global consumer practice and coauthor of "The $10 Trillion Prize."

Transcript

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0:00.0	If you work with early career professionals, my colleagues at
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0:08.4	Young Professional's Guide to Building a Meaningful Career on your own terms.
0:11.9	Share New Here with the Young Professionals in your life. a meaningful career on your own terms.
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0:15.9	Listen for free wherever you got your podcasts.
0:18.6	Just search new here. Welcome to the HBO Idea Cast from Harvard Business Review.
0:33.0	I'm Sarah Green.
0:34.3	I'm here today with Michael Silverstein of BCG.
0:37.3	He's one of the founders of Boston Consulting Group's global consumer practice, and he's
0:41.1	co-author of the $10 trillion prize. Michael, thanks for joining us today.
0:46.0	Thank you.
0:47.0	So Michael, I'd like to start with that provocative title. What is the 10 trillion dollar prize?
0:52.0	And how did you come up with that nice round number?
0:54.8	So we were doing research about the development of the Chinese and Indian market and one of the
1:00.0	base pieces of research is a forecast of demand. And lo and behold, if you look at the consumer
1:06.5	markets that are growing at roughly 8% per year in China and India and you lay out consumer
1:12.2	consumption, in 2020 the combination of China
1:15.6	in India equals a 10 trillion dollar consumer business.
1:20.3	Wow so I want to just ask one question about that before we really dive in, about grouping
1:25.4	China and India together that way.
1:27.4	And I know that at HBR and in a lot of business publications we tend to do that, even though
	...

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