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India's consumption market likely to triple by 2030, says BCG report

The consumption spurt will be driven by urbanisation, higher disposable incomes, and nuclear families

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consumption | Consumer data

Viveat Susan Pinto 

Existing investors in consumption-oriented funds should stay for long term
It says India’s consumption market will triple by 2030, though there could be a lag of 1-2 years induced by the pandemic

A new report by Boston Consulting Group (BCG) says India’s market is back on the growth track after a year, having been disrupted by the pandemic. While growth projection for the market was made before Covid-19 struck, BCG says that the economy has completely unlocked and there has been an uptick in demand across categories.

It says India’s market will triple by 2030, though there could be a lag of 1-2 years induced by the pandemic. The consumption spurt will be driven by urbanisation, higher disposable incomes, and nuclear families.

BCG also notes that retailers will have to develop new strategies to tide over challenges that may emerge in the post-Covid world.

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First Published: Thu, February 25 2021. 01:28 IST
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