9 in 10 in India do not have enough to spend on non-essential items: Report
India may be home to 1.4 billion people, but around a billion of them do not have enough money to spend on discretionary goods or services, according to a new report released by venture capital firm Blume Ventures last month. Another 300 million fall under the "aspirant class", who largely spend on small-ticket purchases, such as clothing. Only 140 million people — or 10% of the population — make up the "consuming class" in India, with sufficient disposable income for discretionary spending. Rebecca Bundhun reports.
India may be home to 1.4 billion people, but around a billion of them do not have enough money to spend on discretionary goods or services, according to a new report released by venture capital firm Blume Ventures last month. Another 300 million fall under the "aspirant class", who largely spend on small-ticket purchases, such as clothing. Only 140 million people — or 10% of the population — make up the "consuming class" in India, with sufficient disposable income for discretionary spending. Rebecca Bundhun reports.
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