India to become third largest consumer market in the world by 2030


According to sources Indian population is currently
spending over Rs 15 lakh crore, or Rs 1,050 lakh crore to buy their products. Presently
this will increase to Rs 4,200 lakh crore in 2030 and with this, India will
become the third largest consumer market in the world. Meanwhile in the
first two places, the US and China will be and India is the sixth largest
economy with an average annual growth rate of 7.5% per annum.

Reportedly the most populous cities and developed
thousands of rural cities will play a major role in the future consumption
growth. Furthermore India’s major 40 cities will create $ 1.50 trillion worth
of consumer markets in 2030 and in the rural areas, basic infrastructure needs
to be increased.

Moreover India, consumption and investment are
increasing and India will continue to be the fastest growing country in
the world. Perhaps the country’s economic growth will be 7.3% in 2018 and 19
fiscal. Hence this will increase to 7.5% in the next two fifties and it is
estimated that in the last year, China’s economic growth will be 6.5% and is
expected to fall to 6% in 2021.

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