High spend, growing middle class make India attractive market for foreign firms
Source: PTI India's growing middle class makes it an attractive market for foreign companies and the country's consumer spending is likely to more than double to US$ 2.4 trillion by 2018-19, said an Economist Intelligence Unit (EIU) study. According to EIU, the growing middle class offers potential for manufacturers and retailers. Moreover, rising income levels mean India's huge population of around 1.2 billion is becoming an increasingly important market for consumer goods, and this trend is likely to continue, it said. “Private consumption expenditure will rise from US$ 1 trillion in 2013/14 to US$ 2.4 trillion in 2018/19," the EIU report said, adding that a majority though would continue to be preoccupied with meeting their basic daily needs rather than follow ...
