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Apple is already diversifying its manufacturing, such as ramping up production in India. During Trump鈥檚 first term, Apple was able to earn tariff exemptions for its iPhones. Spending more money on US infrastructure and jobs could spur the Trump administration to continue those tariff exemptions. Increasing domestic production could help Apple navigate geopolitical issues and changing trade dynamics.

Countries importing Venezuelan oil and gas are now subject to a 25% tariff鈥攚hich will affect China, the largest importer of Venezuelan crude, as well as Spain and India. President Trump announced a 100% tariff on films made outside the US, although there are serious questions about how the duty will be implemented.

While there are pockets of opportunity in emerging markets like India, Thailand, and the Middle East, global economic uncertainty is taking its toll on luxury sales. Go further: Read our reports on US Luxury Consumers and Their Path to Purchase and Luxury Ecommerce.

Just five countries will produce double-digit growth rates for total media ad spending in 2023, and of these India will be the only large market to do so.

Some 41.0% of respondents used the technology in 2024, well ahead of No. 2 India (35.7%). Mexico and the US came next, at 34.0% and 33.9%, respectively. Voice commands are often more convenient than the laborious inputting of characters in local languages on devices, potentially helping to drive adoption.

Reservoirs of opportunity exist in smaller but faster-growing markets鈥攕uch as India鈥攁nd expansion into broader lifestyle categories and services. Investment in product innovation and culturally oriented marketing will be critical to stand out from the competition. Definitions.

Why it matters: Several brands have bet on India as the next major fashion destination, driven by its growing affluent population and a strategy to reduce reliance on China. One in 5 fashion executives called India a focus market for 2025, per鈥嬧�� a survey by BoF and McKinsey.

Shein recently returned to India after a five-year ban through a partnership with Reliance Industries. The Chinese ecommerce platforms are likely also trying to capitalize on growing demand in Asia-Pacific markets. Temu and Shein鈥檚 low-price business model has gained traction in Japan and Australia, our Asia-Pacific Ecommerce report notes.

The survey was conducted in Australia, Belgium, Brazil, Canada, Chile, France, Germany, India, Italy, Japan, Mexico, Netherlands, Nigeria, Poland, Singapore, Spain, South Africa, South Korea, United Arab Emirates (UAE), the UK, and the US, with approximately 1,000 respondents per country.

In Threads鈥� first week, 33.5% of app downloads came from India, followed by Brazil (22.5%) and the US (16.1%), according to data.ai.

The details: The study found that 76% of Gen Zers in India prefer stable investments like fixed deposits, prioritizing security over high-risk returns. 73% of Gen Z respondents listed debt and unexpected losses as their top concerns. 70% of Gen Z banking customers are focused on five-or-more-year investment horizons. 68% opt for dual-benefit investments that balance security with growth potential.

Is India the next China? Retailers from Apple to Dior to Levi鈥檚 are looking to expand in the world鈥檚 fastest-growing retail market, but success isn鈥檛 guaranteed.

Faced with severe headwinds in the two largest markets for personal luxury goods, brands will have to deepen their investments in Thailand, India, and other fast-growing regions. Go further: Read our latest report on luxury ecommerce.

Up-and-coming India will see over $14 billion in spending this year, nearly hitting $20 billion by 2028. Of the 60 countries we track, at least 42 will see over $1 billion in ad spending. Read the full report, Worldwide Ad Spending Forecast 2025.