It happened in India
Kishore Biyani is not a trained economist but his understanding of consumption patterns, origins of demand and supply and the preferences of middle class population in India is no less. Here is a summary of his definition on consumption classes and entrepreneurship in the book “It happened in India’.
India can be divided into three sets. First one is consuming class (around 14% of population) with substantial disposable income. Second one is serving class who make life easier for the consuming class. They are approx. 3 times of consuming class in number (around 55% of population). Third one is struggling class, with a hand-to-mouth existence, who will continue to remain on the periphery of consumption cycle.
There are three kinds of entrepreneurs – creators, preservers and destroyers.
Such insights are all over the book, as Kishore goes through the journey of creating a retail empire. But book has interviews/opinions of Kishore’s family members, relatives, colleagues, industry associates which interrupt the flow. While some of them provide additional information, more numbers of them seem unnecessary.
Overall, it is a good read and readers can finish in one go. And this book was written during economical rise of India, if the current economic slowdown stays for longer duration, will his businesses remain successful need to be seen. That can be a sequel to this book.