What would be the size of Hi Fi market in India?

Hi Guys,
Over and above the entry level consumer market dominated by Sony, Samsung, Philips etc, what would be the size of the market?
How many people would actually go for a hifi and how much would their budget would be?
Every vendor cribs about the small market size when trying to compare the prices compared to the US - so it makes me curious about the market size in terms of number of families and in terms of revenue.
IMO. competition from internet vendors like Amazon has pushed the prices in the US down. Can the same happen to India?

regards

The market for hi-fi in India is probably very small. I think (lack of) awareness plays a large part. Most people simply do not know that they can do better than a Samsung or Aiwa mini-component system. Add to this, the fact that most dealers of hi-fi equipment do not allow for credit card purchase or payment in installments via personal financing. Thus perpetuating the myth that hi-fi is the realm of the elite. Look at the thriving auto industry. Look at the demand for Plasma and LCD TVs that cost so much more than entry-/mid-level hifi. Sadly it is this deadlock that does not let it grow.

I think there are loads of confusions and myths around audio equipment. I like music, and my hearing is fairly intact - however, I still feel there is not much audible difference in speakers of many brands.

Demoing before buying is another issue. Most dealers are pained by the number of people who come to audition versus number of people who buy it. It is so many times they have to connect/ disconnect and then play different audio video tracks. Quite a thankless job I would say.

Would entry of internet sellers like Amazon (maybe coupled with duty cuts) and chinese products (I think most of the top end brand names are anyways getting manufactured in China) trigger the market and take it to a new height?

Where would be your estimates? Would it be of interest for someone to start an internet hifi business?

hi-fi companies ought to be doing more on educating the masses and developing the market.
poor market reach and almost no local presence are a chronic problem.
for starters we need more www.*.co.in, where * = hi-fi brands and companies.
almost no or poor representation/lobbying by the hi-fi industry with/to the goi to improve the duty structure.
it's a long long time before consumer can be king in this segment.

There is equipment available to switch quite easily between different setups and audio. Most audio stores abroad have them in place and they are not that costly for long-term use. Most dealers in India don't have the patience to spend time with customers. Disconnecting plugs has nothing to do with it.
I had also mentioned the deplorable state of affairs online, with almost no Indian websites mentioning current inventory and prices. They point you to their Singapore or Asian counterpart websites.

Reliance, future bazaar etc have gone into large electronics stores. They should be lobbying for the duty cuts.
To start such an internet business where customer is king, just how deep should the pockets be, and how big can the business grow given the current market size and growth rate of 10-20% ?

electronic goods which have become commoditized viz. cell phones, mp3 players, memory sticks, digital photo albums, could be easier to sell on the web without the touch or feel factor.

audiophile grade equipment on the other hand may need a strong presence on the "click" as well as the "brick" front.

i can't imagine how i would get myself to buy such stuff online, unless of course the web option provided me with crazy discounts and free shipping ;-)