household expenditure

India's Consumption Boom: Experiences Over Savings, But At What Cost?

India's consumption patterns have dramatically shifted from basic needs to experiences and lifestyle choices, now driving nearly 60% of the country's GDP. While this boom is visible across urban and rural areas, fueled by rising incomes and aspirations, it also raises concerns about increasing household debt and financial insecurity, particularly among younger generations who prioritize immediate gratification over long-term savings.