Middle-aged, older people to drive future consumption in India: BCG

Contrary to popular belief that millennials will continue to drive consumption in India, consultancy firm BCG says that it is the middle-aged and older people who will do so in the next decade. BCG's findings are part of a report it released on Tuesday at the Confederation of Indian Industry’s Retail Summit. Despite the Covid-19 pandemic, consumption will continue to grow at a steady pace, the consultancy says, tripling in size in 10 years. Indians are also consciously buying Indian brands over international products in a thumbs up to the 'Vocal for Local' initiative.