Robust demand for luxury products exposes widening inequality in India

Consumer-goods makers are reporting robust demand for items priced nearly $2,000 in a nation where per-capita income is just a tad above that level

Photo: Bloomberg
Premium

Photo: Bloomberg

Adrija Chatterjee | Bloomberg
Household spending trends ahead of India’s main festive season are flashing warning signs of a widening chasm in demand recovery as inflation hovers around 7% and unemployment keeps on rising.
 
Consumer-goods makers are reporting robust demand for items priced nearly $2,000 in a nation where per-capita income is just a tad above that level, while industry data on sales of budget phones priced below $100 and motorcycles, an indicator of rural demand, are showing a weaker trend.

Customers are in the market for premium products, said Satish NS, senior vice president at the Indian unit of Qingdao, China-headquartered Haier Group

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 27 2022 | 7:52 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com