Kuznet Hypothesis is also called the Inverted U-Curve. This curve illustrates the behavior and relationship of the two variables in a developing economy. According to this hypothesis, as the economy develops or income per capita increases, economic inequality increases however, at one point, when inequality reaches its peak, it will start to decrease as economy further develops. For instance, in a developing economy, people who have the capital to invest their money have the opportunity to further expand their wealth if they invest the money. On the other hand, those people from rural area will move to the urban area to look for better paying job.
The origins of this growth and the associated Industrial Revolution are generally considered to be a consequence of the economic, political, and social development of Western Europe over the previous centuries. Namely, between 1500 and 1800 Europe experienced an economic growth, which was at that time unique and remarkable (Acemoglu, Johnson & Robinson, 2005, p. 546). Industrial Revolution has a huge impact on institutional changes, since it marks a transition from stable agricultural and commercial society to a modern industrial society relying on complex machinery rather than tools. Dramatic changes took place in the economic structure as inventions and technological innovations created the factory system of large-scale machine production and greater economic specialisation. England once had also an extractive institutional system, since at that time – seventeenth century – the political power was kept strictly and anything that is new and would question the old system was forbidden.
With the travel / tourism and finance also showing great potential for international franchising. (ITA Franchising Top Markets Report, 2016) 3.0 Contribution of Franchising Franchising as a business model has been predominant in India for a long time this is due to shifting consumer trends towards branded products; global exposure and the use of international brands has actively contributed to the growth in franchising A current report from KPMG and Franchise Association of India (FAI) indicates that, India’s franchise economy has the potential to grow from its current $13.4 billion to $51 billion in 2017 and 4% in the country’s GDP. (ITA Franchising Top Markets Report, 2016) A report by the franchising association India probes on the fact that franchising contributes to the economic growth of the nation in divers ways such as, access to necessary goods and services and expansion of a country's tax base. In the case of India franchising has been growing at a remarkable rate since 2008, as risk-averse Indian entrepreneurs deem it to be the most viable option to tapping the nation's vast consumer
A large young working population with median age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key growth drivers of the retail sector in India. India’s retail market has experienced enormous growth over the past decade. The most significant period of growth for the sector was between year 2000 & 2006, when the sector revenues increased by about 93.5% translating to an average annual growth of 13.3%. The sectors growth was partly a reflection of the impressive Indian economic growth and over all rises in income level of consumers. Retailing is one of the pillars of the economy in India.
LITERATURE REVIEW In the 20th century Original Equipment manufacturers focused on similarities of consumers, and in 21st century it focuses on understanding differences among consumers. India's fast-paced economic growth has helped companies to find growth opportunities in this sector. PricewaterhouseCoopers (PwC) forecasts India market performance in last decade was underpinned by natural demand driven by the country’s economic performance, low levels of vehicle ownership and rising middle class. Low economic growth; along with rising petrol prices and elevated interest rates created strong changes in the Indian vehicle market, and instability in petrol and diesel prices added to uncertainty in the sector. Insightful understanding of the competitive environment is a critical ingredient of a successful strategy.
When we look at the main drivers behind this kind of business models, the first is ever changing technology, with new innovative technologies that allow us to connect with more people and find more things to share. Secondly, paradigms shift towards values that embrace openness, humanness and connectedness. Third is the economic realities which the 2008 financial breakdown brought home and finally environmental pressures like the population growth, limited natural resources and growing awareness of the effects of climate change. Sharing brings two changes; a radical reduction of resource consumption and it increases access to the resources at the same
It has many causes of its outward growth like population, economy, high property costs in the core area, physical geography, etc. As mentioned above the population growth of Pune is increasing both due to natural increase, and due to migration of people for education and job opportunities. Economic growth of Pune from Auto sector, IT sector and many other industries is expanding the limits of the city. This also influences many developers for rapid increase in the construction of houses. Rapid development of housing and other infrastructure creates discontinuous and uncorrelated developments.
However, an ultimate consequence of urbanisation appears as an increase in population. There may be many reasons for the population explosion but the declining land productivity, rising expectations for higher wages, and a search for better living conditions are the prominent motivations for migration from less developed areas towards developed areas. In case of Pakistan census records show that the rate of urban population increase has risen from 17.7 percent in 1951 to 32.5 percent in 1998. Karachi, the most populated city of Pakistan has sufficient worth to be considered as a case study because of two reasons. Firstly, large spatial expansion and enormous increase in population in a short span of time, secondly, the bizarre appearance of Katchi Abadies (temporary settlements) and their amalgamation in the urban
Digitalization is the use of technologies to provide new revenues to the business and the country as a whole. Use of digital technologies can be made in every form of organization. Thus this is making India to become fastest growing economy in the recent past. The fast growing industries like software,
1 GENERAL INTRODUCTION 1.0 Introduction In the recent past, increasing trends were seen in unprecedented urban growth, industrial and physical development in most part of Asia. Cities (urban areas) have so far absorbed their growing numbers in settlements with a varying quality of living and that has consequences on the complex uses of land with the complexities of the constructions. As a result, urbanization and industrialization have also changed the way humans relate to land (Ploeger and Stoter, 2005). According to the Department of Statistics Malaysia, in year 2013 Malaysia’s population is estimated to be 29,620,200 has more than tripled since it was formed in 1963. As the result, more complex buildings and facilities were built to cater