Key Points
Indian companies selling premium goods will outperform broad-based competitors as the countrys affluent class is expected to nearly double to 100 million people within three years, according to Goldman Sachs Group Inc...
Strong economic growth, stable monetary policy and high credit growth has increased the purchasing power of top earning Indians over the past decade..
This has resulted in the number of affluent Indians earning above $10,000 per annum from 24 million consumers in 2015 to 60 million, or 4.1% of the population currently, according to a Goldman report published on Friday...
The worlds fifth-largest economy is tipped to become the third-biggest by 2027, according to the International Monetary Fund, with the country seeing rising spending power among its middle-class, benefiting firms with premium brands in leisure, jewelry, out-of-home food and healthcare, according to Goldman...
While more than 960 million debit cards have been issued in India and 93 million have post-paid cell phone connections, Goldman says that only 30 million Indians can afford a vehicle...
