For decades, India’s economic story was powered by a simple but powerful idea: aspiration.
As incomes rose, Indians travelled more, upgraded faster, bought homes, changed smartphones more frequently and embraced the belief that tomorrow would be better than today.
But what happens when the world becomes persistently uncertain and subject to annual shocks of dramatic magnitude?
Conventional wisdom would suggest that repeated shocks eventually weaken consumer confidence and dampen demand.
Yet a new Ipsos Consumer Pulse Survey reveals a far more nuanced picture.
Indian consumers have not stopped spending. They have not abandoned aspiration. Instead, they appear to be recalibrating. Large discretionary purchases are being delayed. Value is becoming more important. Consumers are seeking better deals. And beneath it all, a new consumer psychology seems to be taking shape—one that balances aspiration with caution, confidence with preparedness, and optimism with resilience.
So, are we witnessing the emergence of a new Indian consumer?
And what does this mean for businesses, brands and India’s growth story?
To answer all this and more, StratNewsGlobal.Tech spoke to Suresh Ramalingam, CEO of Ipsos India in this episode of Capital Calculus.
