At the bourses, Pidilite, Asian Paints, Berger Paints, Nestle and Marico have gained up to 24 per cent on a year-to-date (YTD) basis. In comparison, the Nifty50 has added nearly 1.5 per cent.
The downtrading trend is visible in the domestic motorcycle market too, where sales of cheaper brands have outpaced pricier ones
According to WEF report, growth of the middle class will lift nearly 25 million households out of poverty