* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, September 6, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

    Country Music Star Apologizes After Drunken Show Ends in Police Intervention: ‘I’m Not OK

  • 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
    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Blockchain lender Figure Technology seeks to raise up to $526M in IPO (FIGR:Pending) – Seeking Alpha

    Blockchain Lender Figure Technology Sets Sights on $526M in Thrilling IPO Launch

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

    Country music star apologizes after drunken show ends with cops taking him down: ‘I’m not OK’ – PennLive.com

    Country Music Star Apologizes After Drunken Show Ends in Police Intervention: ‘I’m Not OK

  • 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
    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Blockchain lender Figure Technology seeks to raise up to $526M in IPO (FIGR:Pending) – Seeking Alpha

    Blockchain Lender Figure Technology Sets Sights on $526M in Thrilling IPO Launch

    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

Abby Dow and England near record territory as Australia search for upset – The Guardian

Abby Dow and England Close in on Record as Australia Hunts for an Upset

September 6, 2025
America is getting the economy we voted for – Noah Smith | Substack

America Is Finally Experiencing the Economy We Created

September 6, 2025
Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

September 6, 2025
HHS responds to report about autism and acetaminophen : Shots – Health News – NPR

HHS Addresses New Findings on Autism and Acetaminophen Use

September 6, 2025
September 2, 2025: Trump administration news – CNN

September 2, 2025: Trump administration news – CNN

September 6, 2025
Blending art, culture and native plants at Wakamatsu – Mountain Democrat

Discover the Harmony of Art, Culture, and Native Plants at Wakamatsu

September 6, 2025
The Two-Body Problem for Women in Science – Nautilus | Science Connected

The Two-Body Problem for Women in Science – Nautilus | Science Connected

September 6, 2025
How AI and Automation are Speeding Up Science and Discovery – Berkeley Lab News Center (.gov)

How AI and Automation Are Accelerating Breakthroughs in Scientific Discovery

September 6, 2025

American Trust Investment Services Serves as Exclusive Placement Agent in $9 Million Follow-On Offering for Nova LifeStyle, Inc. – Morningstar

September 6, 2025
Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

September 6, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
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 (809)
  • Economy (828)
  • Entertainment (21,705)
  • General (16,884)
  • Health (9,869)
  • Lifestyle (840)
  • News (22,149)
  • People (829)
  • Politics (835)
  • Science (16,038)
  • Sports (21,326)
  • Technology (15,808)
  • World (809)

Recent News

Abby Dow and England near record territory as Australia search for upset – The Guardian

Abby Dow and England Close in on Record as Australia Hunts for an Upset

September 6, 2025
America is getting the economy we voted for – Noah Smith | Substack

America Is Finally Experiencing the Economy We Created

September 6, 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