Indian spending shifts: Families move beyond basics as survey shows asset-building rising;
Indian households are shifting spending from basic necessities to asset-building purchases like personal goods and appliances, even among lower-income groups. Motor vehicles are the fastest-growing durable asset, showing strong urban-rural convergence. While TV ownership declines due to mobile phone prevalence, mobile adoption is nearly universal, indicating reduced asset poverty.🕒 1 min read
Indian households are shifting spending from basic necessities to asset-building purchases like personal goods and appliances, even among lower-income groups. Motor vehicles are the fastest-growing durable asset, showing strong urban-rural convergence. While TV ownership declines due to mobile phone prevalence, mobile adoption is nearly universal, indicating reduced asset poverty.
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