Demographic transition

Break Point में chapter seven में नंदिता ने दिखाया है chart after chart में कि volume growth गाड़ी की हो, motorbike की हो- FMCG की हो, consumer durables की, हर चीज की volume growth गट्टेद है। पंद्रह साल पहले it used to be thirteen, fourteen now it's anywhere between three to six percent.

Right? So in a way big part of that volume downturn जो आपके-- आपने दिखाया chapter seven of Break Point में। A big part of that volume downturn is simply this demographic shift playing through at breathtaking speed.

Volume growth con off कर रहे हैं because, because marriages are happening, happening later and women are having far fewer children, especially women in better educated cities-

Right.

So let's look at it like this, Nandita.

Teen Cheezein Logon Ko Karni Chahiye, right? If you're listening to this, teen cheezein kijiye, and if you don't do these teen cheezein, then the cost that Nandita is referring I think will come home to bite you.

Pehla hai, if you have an Indian equities portfolio, aapke pass mutual funds hai, stocks hai, PMS hai, jo bhi hai, have a look if your portfolio is being driven by mass consumption in India, right? If your portfolio is being driven by mass consumption India, I would strongly recommend you revisit the underlying assumptions underpinning that portfolio because as we are discussing, this sort of breathtaking demographic shift in the last 10, 15 years will have a bearing on the, on the earnings growth, the profit growth, the returns that your portfolio can generate for you, right?

Yes.