India's consumption growth is set to accelerate as Goldman predicts 'affluent' Indians to nearly double
Publishing timestamp: 2024-01-18 21:30:42
Summary
The article discusses how India's consumer sector is becoming a key driver of economic growth, with rising disposable incomes leading to increased discretionary spending. It highlights the prediction that around 100 million people in India will earn more than $10,000 per year by 2027. The article also mentions the growth potential in sectors such as travel, jewelry, and services, as well as the increase in domestic inflows into Indian equities. It concludes by mentioning specific stocks that Goldman Sachs considers top picks in the travel and jewelry sectors.
Sentiment: POSITIVE
Tickers: TITAN-IN, INDHOTEL-IN, ZOMATO-IN, SBUX, PHOENIXLTD-IN, INDIGO-IN, DEVYANI-IN,
Keywords: asia economy, phoenix mills limited, india, business news, starbucks corp, travel, devyani international ltd, indian hotels company ltd, consumer spending, luxury, titan company ltd, wealth, zomato ltd,