Indian household spending has more than doubled in over a decade with discretionary items getting a larger share of expenditure, a government report showed, providing clues for companies tapping on the world’s most populous nation.
Average monthly per capita consumption expenditure in urban areas rose to an estimated 6,459 rupees ($78) in the survey conducted between August 2022-July 2023, from 2,630 rupees in 2011-12, according to the statistics ministry report released Saturday. In rural India in the same period, it climbed to an estimated 3,773 rupees from 1,430 rupees.