Beyond Necessities India's Affluence-Driven Growth
We are pleased to share a Thematic report on Rising Affluence titled
*" Beyond Necessities: India's Affluence-Driven Growth - The Structural Shift Toward Aspirational Living and Spending"*
The key highlights of the report are –
- India is expected to surpass Germany to become the world's third-largest economy by 2030, supported by strong macro fundamentals and a growth-friendly policy environment.
- Indians are no longer just buying what they need; they are increasingly buying what they want.
- This is the structural story of the coming decade. As per capita income is expected to approach US$5,000 by 2030, India could add hundreds of millions of new consumers who can afford premium housing, branded products, better healthcare, travel, and financial services.
- The world's largest youth cohort is entering its prime earning years at the same time that digital access, credit penetration and wealth effects are reshaping how India consumes.
- This points to dynamic shift in consumption and the creation of new growth opportunities.
