Growing Market for Luxury Goods in India

High quality and well priced food and spirits are on the list of products for which demand has increased from Indian consumers with higher purchasing power.

Wednesday, February 18, 2015

From a statement issued by the Costa Rica Foreign Trade Promotion Office (PROCOMER):

The luxury market in India is growing, and it is estimated that by 2017 it will reach a value of $1.8 billion, showing a growth relative to the current level of $1.4 billion, with the categories of fashion, cars and food being the most dynamic. It follows a study by the Associated Chambers of Commerce and Industry of India, Assocham and Yes Bank.

The research reveals that this segment of luxury goods will expand by three times in the coming years and it is expected that the number of millionaires in five years will grow too.



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