
- Why SEA + Indian Tech?
- Favorable Demographics: SEA + India has population of 2084 million and working population of 1407 million, accounting for 27.4% of the world’s total, coupled with low labor costs.
- Strong Export: The total value of ASEAN’s exports of goods increased from US$474 billion in 2003 to US$1,713 billion in 2021. High-tech sectors played an important role and is expected to continue growing in the coming years.
- Industrial Relocation: The United States, Japan, the Four Asian Tigers, and China are the main beneficiaries of the previous four rounds of industrial relocations. Strong export data indicates that it is now the fifth round – Transfer to Southeast Asia.
- Digital Economy in Southeast Asia is Developing Rapidly, Benefitting from a Booming Middle Class
- Strong Economic Growth Expectation: “Southeast Asia (SEA) + India” is the world’s third largest economy next to the US and China, and its economic growth rate will be the highest in 2023-2027.
- Booming Middle Class and New Consumers: By 2030, ASEAN will contribute 140 million new consumers to the world, representing 1/6 of the world’s new consumer class. ASEAN’s middle-class is expected to include 67% of the region’s total population by 2030.
- Fast-growing Internet Sector: The penetration rate of Internet users in Southeast Asia is still low, and its digital economy. India’s digital economy grew at CAGR of 16%, while the digital economy in Southeast Asia grew at CAGR of 24% in 2019-2022.