WEF Report- ‘Future of Consumption in Fast-Growth Consumer Market – India’ – Key Facts

The World Economic Forum has released the report ‘Future of Consumption in Fast-Growth Consumer Market – India’. The report was produced based on consumer surveys conducted by Bain & Company across 5,100 households in 30 cities and towns in India and draws from more than 40 interviews with private and public-sector leaders.

The key facts highlighted in the report are:

• India would become the world’s third largest consumer market behind only USA and China by 2030.
• The consumer spending in India is expected to grow from USD 1.5 trillion at present to nearly USD 6 trillion by 2030.
• The domestic private consumption, which accounts for 60 per cent of the country’s GDP, is expected to grow into a USD 6-trillion growth opportunity.
• The report states that as India continues its path as one of the world’s most dynamic consumption environments, private and public-sector leaders will have to take shared accountability to ensure such consumption is inclusive and responsible.