Goldman Sachs has a new report titled ‘The Rise of Affluent India’, in which it says, “Only ~4 percent of India’s working age population has a per capita income of over $10,000, projecting to ~60 mn consumers… we estimate that this consumer cohort has grown at a 2019-23 CAGR of over 12 percent, compared to ~1 percent CAGR of India’s population. If the current trajectory continues, we expect ‘Affluent India’ will grow to ~100 mn consumers by 2027.”
Affluent Indians,…
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