Brief by Shorts91 Newsdesk / 04:16pm on 26 Feb 2025,Wednesday International
A report by Blume Ventures reveals that 1 billion Indians lack discretionary spending power, with the country's consumer class limited to 130-140 million people. The growing wealth disparity has driven "premiumisation," benefiting luxury brands while affordable goods struggle. India's top 10% now hold 57.7% of national income, up from 34% in 1990, while the bottom 50% have seen their share shrink. The middle class faces stagnating wages and declining financial savings. Experts warn that AI-driven job losses and reduced household spending could impact India's economic trajectory, despite temporary boosts from rural demand and tax incentives.
