India’s real is estimated to grow from Rs 17 trillion today to Rs 70 trillion by 2025. This will place India in a premier league consumer market. With a population exceeding 1.
4 billion and a working age cohort expected to exceed 1 billion, in India is forecasted to surpass $4 trillion by 2030. Global corporations view India as a key market for growth, driven by favourable demographics (young population in emerging markets may drive demand for premium products) and rising disposable income (retired consumers with longer life expectancies are also ready to spend). This is attracting attention from investors and businesses worldwide.
The Indian consumer durables market includes both urban and rural segments. By 2025, the Indian appliance and consumer electronics industry is expected to reach ~Rs1.4 trillion ($21.
18 billion). There are tremendous opportunities here, but the sector also has several challenges such as fierce competition (require unique value propositions to stand out and capture market share), infrastructure gaps (barriers to efficient operations), and price sensitivity (to balance between affordability & profitability). The industry and in India have certain expectations from India Union July 2024 such as for lower income tiers to boost disposable income & consumption and experts hope for a budget that enhances consumer spending, but an outcome will depend upon policy decisions and economic conditions.
Improved spending by consumers benefits several industries .