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Business standard published the excerpts of a report by mckinsey on Indian Consumer and it predicts a great future for indian consumers and an explosive growth in indian consumer’s spending..

Now, experts say golden bird will fly again. A report on the Indian consumer market, prepared by the McKinsey Global Institute, points to explosive growth in consumer spending in the next two decades, taking the market to a jaw-dropping Rs 69.5 lakh crore ($1.5 trillion), four times the present size of Rs 16.9 lakh crore.

Mckinsey predicts that by 2025, there will be 9.5 million households with greater than 10 lakhs in income, 128 million households with 2 to 10 laks in income and 93.1 million households with 1 to 2 laks in income. With growth primarily in communication ( 13.4%) , healthcare ( 15.9%) , education ( 11%) , transport (8.3%), personal products (9.2%), housing ( 6%), food (4.5%), apparel (6.5%) etc.

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Technorati : finance, india