Consumer will remain the king in India's growth story
India is poised to become the third-largest country by consumption expenditure
 "Elite: Households with annual income over Rs 20,00,000; Affluent: Rs 10,00,000 to Rs 20,00,000; Aspirers: Rs 5,00,000 to 10,00,000; Next billion: Rs 1,50,000 to 5,00,000; Strugglers: Below Rs 1,50,000 (1 US$ = Rs 65) Source: The Boston Consulting Gr")
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Elite: Households with annual income over Rs 20,00,000; Affluent: Rs 10,00,000 to Rs 20,00,000; Aspirers: Rs 5,00,000 to 10,00,000; Next billion: Rs 1,50,000 to 5,00,000; Strugglers: Below Rs 1,50,000 (1 US$ = Rs 65) Source: The Boston Consulting Gr
Even as India’s economic growth has been attributed to its power to consume, the data show consumers drive the growth and the trend will continue. According to a report by Boston Consulting Group, India is poised to become the third-largest country by consumption expenditure, driven by the rising upper-income households. Arnab Dutta lists out the consumption story.
Elite: Households with annual income over Rs 20,00,000; Affluent: Rs 10,00,000 to Rs 20,00,000; Aspirers: Rs 5,00,000 to 10,00,000; Next billion: Rs 1,50,000 to 5,00,000; Strugglers: Below Rs 1,50,000 (1 US$ = Rs 65)