Question

Future of consumption in fast-growth consumer market â india

Answer 1

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This report sheds light on one of the fastest growing economies in the world - India. By 2030, India will see a tremendous jump in consumer spending driven by increased incomes, a billion diverse internet users and a very young population. The new Indian consumer will be more affluent, and more willing to spend but will have more evolved preferences and aspirations than consumers of the past. The ‘Urban vs. Rural’ paradigm of the past may not hold as firm in future. Moreover, specific key societal challenges will have to be overcome to ensure a positive future of consumption for all. The report builds on in-depth consumer surveys conducted across 5,100 households in 30 cities and town in India and draws from over 40 in-depth interviews with private and public-sector leaders. It lays out seven critical predictions on a vision for consumption in India in 2030 and lays out a call-to-action for multi-stakeholder collaborations to build an inclusive future for India.

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