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Mark Esposito (Associate Professor, Grenoble Business School and Harvard Extension School) and Terence Tse (Associate Professor, ESCP Europe London campus) have developed the concept of fast expanding markets (FEM). This concept suggests a broader way of looking at global markets, rather than treat them as ‘emerging economies’ or ‘developed markets’. It focuses on pockets of growth that register exponential growth rates over a considerable period of time. It helps identify growth opportunities irrespective of macro development indicators which may or may not bring out the micro/hidden over-performers within the same markets. One such in India is the chocolate industry, set to grow to $2.1-2.8 billion by 2015. The professors commissioned Outline India, a research start-up, to put together this information.
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