According to ‘Future of Consumption in Fast-Growth Consumer Markets’ report by World Economic Forum and Bain & Company, India’s Consumer spending will grow from $1.5 trn at present to $6 trn by 2030, making it the third largest consumer market in the world after U.S. and China.

The report added that by 2030, India will lift nearly 25 million households out of poverty; less than 5% of households will be below the poverty line by 2030, down from 15% today.

It is set to become a truly middle class-led economy, fuelled by growth in income.

The report comes at a time when India has witnessed a landmark year for deals in consumer industry such as Zydus Wellness-Heinz India, Flipkart-Walmart, and a few others.

For more: http://www3.weforum.org/docs/WEF_Future_of_Consumption_Fast-Growth_Consumers_markets_India_report_2019.pdf