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India on track to become the world's consumption capital, report says

  • India is set to become the world's consumption capital, surpassing major economies.
  • Private consumption accounts for 56% of India's GDP, with the fastest spending growth rate globally.
  • Rising household formations, expanding workforce, and increasing discretionary spending contribute to the consumption surge.
  • India's impressive savings potential, recent tax cuts, and the rise of Gen Z population further fuel the consumption growth.

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