The consumer market is expected to grow at 12 percent annually

The consumer market was around Rs 110 lakh crore in 2018, clipping past 13 percent annually in the past decade when it stood at Rs 31 lakh crore in 2008...Between 2008 and 2028, the share of private consumption in GDP has increased from 56.8 to 62 per cent, higher than the emerging market average which is expected to stay constant at 50-51 per cent, the report has said..Growth will be driven by increasing population, higher affluence, continued urbanisation, shifting family structures, the report said and noted that with an 8 percent growth in average spend per household across all income segments, the critical differentiator in consumption growth has turned out to be the expanding base of affluent and elite households

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