Consumption

The Indian retail market is expected to reach over Rs 190 lakh crore by 2034 and retailers capable of embracing the country's diverse demographics and contrasting consumer behaviours stand to gain the most, according to a report. With distinct consumer groups, each with their own unique needs even within a city, retailers will need to recognise the different opportunities and pick sharply where they want to play to be successful in 'Bharat' and 'India', said the report prepared jointly by the Boston Consulting Group (BCG) and the Retailers Association of India (RAI). The retail market in India reached a size of Rs 82 lakh crore in 2024, up from Rs 35 lakh crore in 2014, growing at over 8.9 per cent in the last decade, driven by the India's economic growth and an increasingly discerning and diverse consumer base, said the report titled 'Winning in Bharat & India: The Retail Kaleidoscope'. India's consumption growth trajectory has been secular, barring during the COVID-19 pandemic ..

The gaps in urban areas were even wider, with urban Gujarat spending ₹17 and urban Punjab ₹12 on beverages and processed foods for every ₹1 spent on eggs, fish and meat

Fitch Ratings said that the budget will be broadly neutral for growth and continued to project real GDP expansion of 6.4 per cent in FY25 and 6.5 per cent in FY26

The FM announced income tax relief for middle-class households to the tune of $12 billion (0.3 per cent of GDP), which is expected to give a significant boost to urban consumption and savings

The upcoming Income Tax Bill further promises to be clearer, reducing the number of chapters in the current law by half, which could lead to greater certainty and reduced litigation

Conversely, among non-food items, rural households reduced spending on medical care, education, rent, fuel, and durable goods

Consumption inequality in rural as well as urban areas declined during August 2023-July 2024 period as compared to a year ago, according to the latest Household Consumption Expenditure Survey released on Friday. The Gini coefficient declined to 0.237 from 0.266 for rural areas and to 0.284 from 0.314 for urban areas during the period under review, a statement by Ministry of Statistics & Programme Implementation on the survey said. The Gini coefficient statistically measures consumption inequality and wealth distribution within a society. The "consumption inequality, both in rural and urban areas has declined from the level of 2022-23," stated the Household Consumption Expenditure Survey (HCES) based on the fieldwork undertaken during August 2023 to July 2024. The average MPCE (monthly per capital expenditure) in rural and urban India in 2023-24, without taking into account the social welfare schemes, has been estimated at Rs 4,122 and Rs 6,996 (at current prices), ...

The country will boost the basic pension for retirees and for urban and rural residents and raise financial subsidy standards for urban and rural residents' medical insurance

The rating agency also noted that inflation is likely to decline to 4.3 per cent in FY26 from 4.8 per cent projected by the central bank for the current fiscal

Says reducing GST on essential goods can stimulate consumption

Commerce and Industry Minister Piyush Goyal on Monday called for promoting sustainable consumption patterns to cut carbon footprint and resolve issues of environment. He said that people of the world would have to focus on consuming products which are environmentally sustainable. "We need to be conscious of the waste and carbon footprint due to our current lifestyle patterns. This is going to be a core of a better future for the world. Unless we address the consumption patterns, we are not going to resolve sustainability and environmental challenges," Goyal said. The minister was addressing CII's Partnership Summit here. He added that environmental challenges are not a function of the carbon emitted through manufacturing, but "it is a greater function of the carbon caused by (our) consumption because manufacturing comes only because there is a consumption demand". He suggested managing that demand in a better and more sustainable way. Speaking at the event, M K Nir Barkat, Minist

The Q2FY25 growth in manufacturing slowed to 2.2 per cent, significantly below the 7 per cent recorded in Q1 and 14.3 per cent a year earlier

Some of country's biggest companies from Maruti Suzuki to consumer bellwether Hindustan Unilever have posted weaker earnings recently, saying urban middle class spending has been languishing

Festival flop, sluggish spending, job drought, and market correction sink consumption stocks

India's steel ministry favours a safeguard duty or a temporary tax to curb rising steel imports, a senior government official

Urban demand growth has been trending down for five quarters, data from market research firm Kantar Worldpanel shows. And the sense of unease around this is spreading

Sharp slowdown in Manufacturing, Infra & PSU fund flows, said Elara Securities in a note.

Rural may outpace urban; rain plays spoilsport for out-of-home consumption, beverages: Analysts

India emerging as destination with most evolved supply chain know-how, says CEO

Speaking at Kautilya Economic Conclave, Finance Minister Nirmala Sitharaman noted that while it took the country 75 years to achieve a per capita income of $2,730, the next leap will be much faster