18% rise in Indian consumer stocks amidst widening wealth gap and slowest private consumption growth in two decades.
Consumer stocks in India rise 18% but lag due to low income growth and volatile inflation, while luxury goods see an increase in demand. The wealth gap in India has widened, with the wealth concentrated in the richest 1% at its highest in six decades. Private consumption, which contributes 60% to India's economy, is expected to grow at 3% - the slowest in two decades, excluding pandemic years.
March 26, 2024
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