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SBI Report: Average income of middle class grows from Rs 4.4 to Rs 13 lakh in last ten years

The State Bank of India has released a report titled ‘Deciphering Emerging Trends in ITR Filing: The Ascent of the New Middle Class in Circular Migration, ....

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Why India's upper middle class is splashing money on premium cars, smartphones & personal care items

India Business News: Indian consumers are shifting toward premium goods across various categories, spanning personal care items to smartphones and SUVs. ....

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I-Day speech: PM bets on middle class beyond metros to power next growth phase

India’s economic growth ambitions are predicated upon the emergent spending power of the neo-middle class, whose ranks, the Prime Minister said, has surged as development lifts millions out of poverty. ....

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Masses are coming: A growing challenge threatens India's big FMCG companies

Local brands in India are growing faster than national brands in the fast-moving consumer goods (FMCG) sector due to a slowdown in inflation. India s consumer demographics are also shifting, driving growth in the sector. A recent Redseer survey revealed a large proportion of Indian consumers are willing to buy unbranded products. The "mass" class, which is set to underpin India s retail industry, focuses on value for money, and is increasingly purchasing online. ....

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'Mass' consumers with income between Rs 2.5-10 lakh to be growth engine for eCommerce market: Report, ET Retail

ECommerce Market: This segment of mass consumers is projected to drive ~US$ 1.3 trillion in the overall Indian retail market and nearly 45% of the $300 billion eCommerce opportunity in India by 2030. ....

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