Income and Expenditure: India

August 2022

India’s consumer income is expected to double by 2040, facilitated by a vibrant labour market and stable economic performance. Purchasing power will be concentrated in present-day Millennials’ hands, yet seniors will be the major spenders on luxury items. Expenditure on education and health goods and medical services will be the fastest rising, yet housing will remain the most substantial item. Overall, the income and wealth situation could be moderated with a correction in real estate prices.

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The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

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Income and Expenditure: India


Consumer Income
Remittances to remain a major income source for Indians
Social Classes/Inequality
Gender gap in India among most severe globally
Consumer Expenditure
Digital natives to shape consumer expenditure trends in 2040
Wealth and Wealthy Consumers
Travel and luxury cars to be among the major Indian luxury spending categories
Chart 1 Annual Gross Income Distribution by Age in India: 2021
Chart 2 Distribution of Income in India - Key Metrics: 2021-2040
Chart 3 Gross Income Growth Index in India: 2021-2040
Chart 4 Average Gross Income by Age in India: 2021-2040
Chart 5 Population by Income Brackets in 2040
Chart 6 Gini Index: 2021/2040
Chart 7 Households by Disposable Income (PPP) over 2021-2040
Chart 8 Overview of India’s Social Classes
Chart 9 Social Class E by Age: 2021/2040
Chart 10 Consumer Market and Spending in India - Key Metrics: 2040
Chart 11 Consumer Expenditure in Top Regions: Size in 2040 and CAGRs 2016-2040
Chart 12 Urban/Rural Consumer Expenditure in 2040
Chart 13 Household Expenditure in 2021
Chart 14 Consumer Spending by Category in India 2021-2040: USD per Household
Chart 15 Index of Consumer Prices in India over 2010-2021
Chart 16 Household Expenditure by Category in India: 2040
Chart 17 India’s Wealth Landscape: 2021-2030

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