India’s Consumer Market Potential Is Constrained by Rising Inequality and Weak Purchasing Power
Euromonitor International’s Income and Expenditure: India Country Briefing highlights the fact that India’s robust economic expansion had supported income and spending growth during the period of 2011-2016. Nevertheless, the country’s per household income and expenditure levels are still below the averages for the Asia Pacific region. Income inequality in India is also relatively high by global standards and is set to rise in the period through to 2030. As a result, the potential of the consumer market is constrained by weak purchasing power and a predominance of lower social classes.