* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, June 28, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Defense technology giant Northrop Grumman to host interviews in Iuka to fill technician roles – supertalk.fm

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

India’s consumption growth is set to accelerate as Goldman predicts ‘affluent’ Indians to nearly double

January 19, 2024
in General
India’s consumption growth is set to accelerate as Goldman predicts ‘affluent’ Indians to nearly double
Share on FacebookShare on Twitter

The increase in wealth has been seen from stronger retail participation, larger investments into the Indian stock markets, and gold and property purchases.

Sopa Images | Lightrocket | Getty Images

Rising disposable incomes are set to power India’s consumption story, further boosting the country’s consumer sector that is fast becoming a key driver for economic growth.

India, which has relied heavily on business-to-business services and manufacturing to fuel growth, is on track to become a more consumption-focused economy, said Abhishek Malhotra, partner at McKinsey & Company’s Mumbai office.

His comments came on the back of a Goldman Sachs report last week that predicted around 100 million people in India will become “affluent” — earn an annual income exceeding $10,000 — by 2027.

There is a great desire to spend on travel, jewelry, eating out, among other things, with discretionary spending in the country on the rise, Malhotra told CNBC in a Zoom interview. 

Currently, 60 million people in the world’s fifth-largest economy earn more than $10,000 — around 4% of India’s working age population — according to the report released last week. The number was just 24 million in 2015. 

“When you have a lower income, most of your money goes into food and housing … Now that those have been taken care of, there is leftover discretionary spending,” Malhotra said, adding that consumer sectors such as travel, jewelry, and services will see significant growth in the next two decades. 

The country’s consumer market is set to become the world’s third-largest by 2027, as the number of middle- to high-income households rises. 

About 33% of India’s 1.4 billion people are estimated to be aged between 20 and 33 years, according to data from BMI, which is driving global firms to set up and expand operations in the country. 

Pedestrians walk past a Tata Starbucks coffee shop in Mumbai, India, on Saturday, Nov. 5, 2016.

Bloomberg | Bloomberg | Getty Images

For instance, Tata Starbucks — a joint venture company between Tata Consumer Products and Starbucks Corporation — announced in January that it will have 1,000 stores in India by 2028. 

The coffee chain currently operates about 400 stores across 54 Indian cities. Other international chains such as Tim Hortons and Costa Coffee have reportedly been striving to gain a foothold into the Indian market.

Rising incomes are also reflected in higher domestic inflows into Indian equities, and the country’s market cap has risen by over 80% in the last three years, with India trumping Hong Kong in December to become the world’s seventh-largest stock market. 

Besides growth in investments, Goldman anticipates a sharp increase in gold and property purchases. 

Property prices in the South-Asian nation have shot up by more than 30% from financial year 2019 to 2023, compared with just a 13% increase from financial year 2015 to 2019, on the back of higher housing demand. 

Higher incomes have also led to credit cards spending more than doubling in the last year compared with 2019, Goldman said. 

The report showed that there are around 90 million credit cards being used in India, with some of the people earning more than $10,000 holding more than one card. There were just 50 million credit cards in 2019. 

“There is a focus towards plastic currency and digitization of payments in India … And the young population is the key driver of credit card growth,” said Kranthi Bathini, equity strategist at WealthMills Securities. 

“The youth is confident in India’s growth story, so that’s where this participation is coming from,” Bathini told CNBC via telephone. 

Promising plays 

Stocks of Indian travel companies such as MakeMytrip and InterGlobe Aviation (IndiGo) have both made gains since the beginning of the year, making them Goldman’s top picks from the travel sector. 

The world’s most populous country’s spending on travel is set to be the fourth highest globally by 2030, largely due to the growth in middle-income households.

To meet booming travel demand, Indian carriers have been placing record aircraft orders with Akasa Air on Thursday ordering 150 Boeing 737 MAX planes.

Indiana are projected to take 5 billion leisure trips by 2030, with 99% of the travel within the country. 

The Indian Hotels Company, which owns 263 properties in the country, stands to benefit from the surge in domestic travel, Goldman said.

Jewelry firms such as Titan and Kalyan are also among Goldman’s top picks, with both stocks up 2% and 9%, respectively, so far this year. 

Goldman Sachs said food operations such as food delivery company Zomato will benefit from growth in India’s consumption sector.

Debarchan Chatterjee | NurPhoto | Getty Images

In food delivery, Goldman prefers names such as Zomato, Devyani, Sapphire and Phoenix Mills.  

“Not only do these benefit from the rise of ‘Affluent India’, but we also see these as high quality businesses with strong competitive advantages, proven track records of past performance and market leadership within their segments,” it said. 

“This gives us greater confidence that they will be able to hold their competitive position within these high growth categories.” 

— CNBC’s Naman Tandon contributed to this report.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : CNBC – https://www.cnbc.com/2024/01/19/goldman-sachs-predicts-100-million-indians-will-earn-10000-by-2027.html

Previous Post

Lenovo bets its Motorola smartphone brand will be the third-biggest globally in 3 years

Next Post

South Africa: Today’s latest news and headlines, Friday, 19 January 2023

Small business owners aren’t jumping for joy about the US economy – but they still aren’t jumping ship – The Guardian

Small Business Owners Hold Firm Amid Ongoing Uncertainty About the US Economy

June 28, 2025
U.S. uninsured rates could resurge if Trump’s budget bill passes – NPR

U.S. Uninsured Rates Could Surge if Trump’s Budget Bill Becomes Law

June 28, 2025
Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

June 28, 2025
Axios Event: Media execs are betting big on women’s sports – Axios

Axios Event: Media execs are betting big on women’s sports – Axios

June 28, 2025
Tellus Science Museum astronomer discusses meteorite landing in metro Atlanta – WSB-TV

Meteorite Crash-Lands in Metro Atlanta: Expert Insights from a Tellus Science Museum Astronomer

June 28, 2025
With pride and honor: How this queer couple achieved academic success – ABS-CBN

Triumph and Pride: The Inspiring Journey of a Queer Couple in Academia

June 28, 2025
Bidding process for 2029 and 2031 World Athletics Championships launches – worldathletics.org

Excitement Builds as Bidding Opens for 2029 and 2031 World Athletics Championships

June 28, 2025
If something is going to break in the U.S. economy, it will probably happen this summer, BofA Global says – MarketWatch

This Summer May Be the Critical Turning Point for the U.S. Economy, Experts Warn

June 28, 2025

Audit Uncovers Shocking Shortfall in State Health Plan Funding

June 28, 2025
Boulder attack suspect charged with federal hate crimes – CNN

Boulder attack suspect charged with federal hate crimes – CNN

June 28, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (699)
  • Economy (722)
  • Entertainment (21,613)
  • General (15,605)
  • Health (9,761)
  • Lifestyle (726)
  • News (22,149)
  • People (722)
  • Politics (728)
  • Science (15,938)
  • Sports (21,218)
  • Technology (15,706)
  • World (701)

Recent News

Small business owners aren’t jumping for joy about the US economy – but they still aren’t jumping ship – The Guardian

Small Business Owners Hold Firm Amid Ongoing Uncertainty About the US Economy

June 28, 2025
U.S. uninsured rates could resurge if Trump’s budget bill passes – NPR

U.S. Uninsured Rates Could Surge if Trump’s Budget Bill Becomes Law

June 28, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version