Only one out of 10 Indians has money for spending on non-essential items

Quick Summary:

India’s startup ecosystem, referred to in the report as ‘Indus Valley’, continues to expand.

While the wealthiest 10 per cent, referred to as ‘India1’, drive two-thirds of discretionary spending, lower-income groups struggle with underconsumption, particularly in financial services, automobiles, and daily essentials.

Despite India’s strong consumption growth compared to major economies, it still lags behind China by over a decade.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaMexico

Topics: K shaped recovery Indian economy Wealthy Indians Indian economy's K-shaped recovery Discretionary spending Discretionary spending power Indian consumers' discretionary spending Wealth gap in India Financial flexibility of India

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-28 @ 13:20:39 (12 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 662 words

Reading Time: 4 minutes read

Sentences: 35 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 26506293

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About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 273 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #49

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