India's Affluent Class to Boom 67% by 2027, Fueling Consumption Growth in Jewelry, Travel, Healthcare
- 100 million Indians will be considered "affluent" (income over $10,000 per year) by 2027, up 67% from 60 million today
- Affluent Indians have driven 12% annual growth in consumption between 2019-2023
- Assets like equities, gold, and property have seen large increases among affluent Indians recently
- Sectors benefiting most from affluent growth are jewellery, travel, premium retail, healthcare
- Report sees the affluent consumption boom as sustainable, dismissing COVID as a temporary factor