Household income in India: These numbers will shock and awe you
Strong demographics, rising income levels, and reforms are expected to support sustained and board-based consumption growth in India over the next few years, according to a report by Bain & Co.
Evolution of the household-income profile in India:
High income & Upper Middle Income Segment
1 in 4 households today
1 in 2 households by 2030
70 million fewer low-income households by 2030
Image source: DNA
$6 trillion
Domestic consumption is expected to rise by 2030, from $1.5 trillion now
Image source: Reuters
25 million people
These are the number of people who would be lifted out of poverty
Image source: Pixabay
1-1.2 crore
These are the working-age people who get added to the population
Image source: PTI
70 crore
Millennials and Gen Z people in the next decade
Image source: Reuters
40%
Number of Indians who will be urban residents by 2030
Image source: Pixabay