On 22 September, India set in motion GST 2.0. Among other things, it entailed a slashing of rates on most daily consumption items and a range of aspirational goods like entry level cars.
Interestingly, the first week’s sales witnessed a surge. The question is whether this is a GST sugar high? Or is this the tipping point of a new trend in India consumer economy?
An unleashing of the Indian consumer.
Remember India’s consumer story has been undergoing a makeover for the last decade and more. We are seeing women step forward as independent spenders, the emergence of the neo-middle class with raging aspirations, and most significantly, over 50 crore people lifted out of abject poverty becoming stakeholders in the marketplace.
In this episode of Capital Calculus, StratNewsGlobal.Tech spoke to Madhurima Bhatia of IPSOS to put the spotlight on this compelling makeover of India’s consumer economy — the rise of the new consumer. IPSOS is a global market research company with a big footprint in India.
