Unfolding
India's
Consumption
Story
Unfolding
India's
Consumption
Story
Currently contributing 60% to domestic GDP,
India's consumption economy is fueling the country's growth
aspirations and is on track to expand to a
USD 4 trillion opportunity by 2030.
CMS' report titled,
'Unfolding India's Consumption Story'
spotlights two integral aspects of India's consumption landscape.
What are Indians consuming the most?
FMCG:
Average spending in the sector sharply increased by
16.76% in FY24 after witnessing a decline of
21.94% in FY23
Aviation:
Average spending in the sector increased by
6.36% in FY24 and by
27.42% since FY22.
Media & Entertainment:
In FY24, M&E spending surged by
29.30%, the highest among 20+ sectors in
India. Over FY22-FY24, it nearly doubled, up by almost
100%
Where are the high consumption hotspots of India?
Karnataka saw the highest annual average withdrawal of
Rs. 1.83 Cr during FY24, followed by Delhi,
and West Bengal at
Rs. 1.82 Cr and Rs. 1.62 Cr, respectively.
Commensurate with FY24 average ATM cash replenishment trend compared to FY22, ATM cash withdrawals in metro locations have grown at 37.49%, whereas SURU witnessed 12.50% growth in ATM cash withdrawals.
To delve deeper into the insights,
Download the CMS
Consumption Report 2024.
