India to be third largest consumer market : WEF | Daily News

India to be third largest consumer market : WEF

NEW DELHI: India is poised to become the third-largest consumer market behind only the US and China; and consumer spending in India is expected to grow from USD 1.5 trillion at present to nearly USD 6 trillion by 2030, a World Economic Forum report said Wednesday.

According to World Economic Forum (WEF), with an annual GDP growth rate of 7.5 per cent, India is currently the world’s sixth-largest economy. By 2030, domestic private consumption, which accounts for 60 per cent of the country’s GDP, is expected to develop into a USD 6-trillion growth opportunity.

“If realised, this would make India’s consumer market the third-largest in the world, behind the US and China,” the report said. (www. indiatimes.com)


 

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