India to record highest per-capita income growth in next decade: Report

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India to record highest per-capita income growth in next decade: Report - Business Standard

Quick Summary:

The report also notes that food waste and losses in the South and Southeast Asian region are 22 per cent above the global average, with cereals representing more than half of the calories wasted, denoting the abundance of cereals in the consumption basket of the region.

Meanwhile, India is projected to maintain its high import growth of vegetable oil to satisfy its domestic demand, with a per-capita consumption growth of 1 per cent per annum by 2033.

This basically means that the per-capita income growth on a trend basis should be around 5.5 per cent, which is closer to the projected levels by the OECD-FAO report,” Paras Jasrai, economist at India Ratings, said.