Team Blitz India
NEW DELHI: The real household spending in India is expected to grow by 6.7 per cent in 2024, up from 5.7 per cent estimated in 2023, according to a report released on March 8 by BMI Research, a unit of Fitch Ratings.
The report notes the growth in consumer spending in 2024 is expected to come as the wider Indian economy recovers and growth figures return to a more stable medium-term trajectory.
“The domestic economy will grow by a real rate of 6.7 per cent in 2024, an improvement from the 6.5 per cent in 2023. Although inflationary pressures have remained elevated, inflation is moderating and strong showings in real income growth for Indian consumers will give greater propensity for household spending growth,” it said.
