India's 247 Million Entrepreneurial Households Set to Propel $8.8 Trillion Economic Wave

India is home to at least 247 million entrepreneurial households who will be the drivers of India's next economic wave, driving an $8.8 trillion transaction value in FY23, a new report showed on Wednesday.

These entrepreneurial households will be drivers of the next economic wave in India and their core transaction value (CTV) is set to grow 12.7 per cent (year-on-year) to $95.2 trillion by FY43, according to the report by Enmasse, an international network of people and organisations, and management consulting firm Praxis Global Alliance.

The report unveils a key new metric -- core transaction value -- which shows an enormous market, poised for growth, that remains undercapitalised.

Such entrepreneurial households are characterised by multiple diversified sources of income and turn these income and curated borrowings into a transaction-intense portfolio of high-priority goods and services, and business spends.

"The research into core transaction value and the identification of 247 million entrepreneurial households reveals a vibrant economic segment poised for transformative growth,” said Jyotsna Krishnan, Managing Partner at Elever Equity and Co-founder of Enmasse.

The report also showed that brands focusing on entrepreneurial households have showcased attractive returns on capital employed (ROCE), which is comparable with the Nifty50 in FY23.

"The $8.8 trillion core transaction value we uncovered is not just a number; it's a testament to the untapped potential and vibrant economic activity of these households," said Madhur Singal, Managing Partner and CEO at Praxis Global Alliance.- IANS