If you are a CEO of a Silicon Valley startup, among the 25% of CEOs in India, Sundar Pichai, the CEO of Google, left these words in an interview. He said, Even when we didn't have a refrigerator at home in my childhood, it wasn't a big problem. But during severe droughts, the lack of water was a series of suffering. Even now, I can't sleep without a bottle of water next to my bed. The desire for growth has created today's Indian management in Silicon Valley. This time, we will talk about India, the world's strongest workforce country. When we put our hands together and listen, India is growing [MUSIC]. Knowledge Namaste Osaka's best restaurants are matched by Senior Manager India's stock favorites are Senior Manager India's analyst Jung Woo-chang. In this episode, we will look at the impact of remittances sent to India by overseas residents on Indian consumption. India's population is 1.4 billion, and approximately 13% of that, about 18 million people, reside abroad.

So, these people are earning money overseas and sending dollars to India. So, if you look at Indian workers working abroad, there are not only simple laborers but also many excellent elite talents who are currently active overseas. For example, many of you viewers are familiar with the numerous American Silicon Valley startups, right? If 25% of the management of these startups are from India, there are news articles about it. [MUSIC] You asked a good question. South Korea has a strong emphasis on education, but compared to India, South Korea's emphasis on education is nothing. This is a joke that many Koreans who have lived in India often mention. In India, if one child enters the prestigious engineering university IIT and graduates to get a job, the status of the whole family rises immediately. Therefore, most financially capable parents in India are truly comparable to those in South Korea.

Instead, they are more dedicated to their children's education than in Korea. But the interesting point is that there are 23 Indian Institutes of Technology (IITs) across India. There are 23 of them, and the number of new students admitted each year is only about 10,000. I heard that Seoul National University admits around 3,200 to 3,300 new students per year. Considering India's population of 1.4 billion and South Korea's population of 50 million, with 3,200 to 3,300 students admitted annually in Korea, you can imagine how difficult it is to get into these prestigious Indian universities. Dare to come to India and experience firsthand the ultimate analysis of Indian stocks and rich investment ideas straight from India. However, if you find the reports too thick to read, then enjoy reading the reports easily and comfortably through this video. In India, consumption is indeed the key. Indian stocks are indeed attractive. But this is where Indians living abroad are now sending their money back to India.

The increase in remittances is actually quite frightening right now. Over the past 5 years, it has grown by an average of 13.5%, which is now 3.5% of India's total GDP. The growth rate of remittances from overseas Indians is so fast that it is even faster than the overall consumption market growth rate in India. For example, when Indian companies export products or services to the United States or Korea to earn foreign currency and bring it back to India, not all of this foreign currency, 100%, will directly lead to consumption. This is because reserves need to be held internally, investments need to be made, and various expenses like employee salaries need to be covered. The actual impact on the consumption market is relatively limited. However, remittances coming in from overseas have a 100% impact on the consumption market, so this rapid growth of remittances from abroad is expected to be a driver of growth in the Indian consumption market.

I am making a judgment, so I expect the average annual growth rate of the Indian consumer market for the next five years to be 12%, compared to the past five years' growth rate of 10.7%. One of the reasons for this judgment, expecting 10.7% to be much faster, is the increasing influx of overseas immigrants. The content related to overseas Indian remittances and the consumer market prepared in this episode ends here. For more detailed information, please refer to the link for the Indian Consumer Report. I will greet you again in the next episode with more informative content. Thank you. Namaste.

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