Consumption Level Goes North As India Shines

(via Times News Network) Rajesh Shukla & Preeti Kakar writes:

The Indian economy has ushered in a new era, wherein the country’s per capita income growth in recent years has outperformed that of the other major Asian economies. However, the gains of prosperity have been distributed unevenly. The paradox of plenty amid poverty ceases to lift. For instance, per capita income in the richest state of the country is about five times that of the poorest.

India’s economic diversity matches its social diversity and this engenders a wide spectrum of consumers in terms of their income levels and spending behaviour. What is noteworthy here is that the diversity is not only visible in the spending behaviour of people with different levels of income but also with the same level of income. This is because income levels by themselves do not reveal much about market behaviour and purchasing power.

More info @ http://economictimes.indiatimes.com/articleshow/1581481.cms