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India's luxury market is booming, set to grow faster than Japan's, with ultra-high-net-worth individuals rising by 50% by 2028.
McKinsey & Company and BoF report projects a 50% rise in India's ultra-high-net-worth individuals by 2028, making it the world's fastest-growing market for luxury goods.
India's luxury market is forecasted to grow 15-20% in 2025, with new malls like Jio World Plaza and Galeries Lafayette opening.
Increased taxes on imported goods over $8,400 are expected to boost domestic spending.
Meanwhile, Japan's luxury market growth is predicted to be 6-10% in 2025.
India has surpassed Japan to become the world's fourth-largest economy.
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El mercado de lujo de la India está en auge, y crecerá más rápido que el de Japón, con individuos de ultra-alto patrimonio neto aumentando en un 50% para 2028.