Summary:

India's consumer market is expected to expand by 46% by 2030, driven by rising incomes, a young workforce, and urbanization. Consumer spending is projected to reach Rs. 3,72,33,700 crore (US$ 4.3 trillion) by 2030, up from Rs. 2,07,81,600 crore (US$ 2.4 trillion) in 2024. This growth is fueled by an expanding middle class, increasing purchasing power, and greater female workforce participation. Urbanization, digital transformation, and financial inclusion are reshaping consumer behavior across the country.

The shift from unbranded to branded products and unorganized to organized retail is expected to unlock Rs. 51,95,400 crore (US$ 600 billion) in consumer spending. Urbanization and digitization are transforming purchasing habits, with e-commerce and digital payments driving consumption. This rise is supported by easy credit access and high demand for premium products. Rising affluence and broadband penetration make rural areas a significant opportunity. India's increasing per capita income and transition to organized retail are fueling unprecedented consumer market growth.

Source: IBEF 

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