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.

¿Busca soluciones de inteligencia comercial para su empresa?

More on this topic

Luxury Goods Market in Panama

November 2014

Economic growth and the presence of foreigners with high purchasing power is driving the opening of shops selling luxury cars and premium residences.

A study by the firm Lends entitled 'Worldwide Luxury Consumer' shows that the number of consumers of luxury goods in the world has increased over the past 20 years.

Panama: Consumption of Luxury Goods Increases

April 2014

Greater purchasing power and a growing middle class have led to an increase in the purchase of goods in the premium brand range to the detriment of basic commodities.

Liqueurs and alcoholic beverages is one of the sectors which best exemplifies the boom in goods and services which are considered luxury items in the country, to the detriment of traditional goods or commodities.

Luxury Consumption Grows in Costa Rica  

December 2013

The growth of the high-income segment in the country is an opportunity for companies focused on providing high quality products and services. reports: "A study by the firm Wealth- X, originally from Singapore, found that the number of individuals locally who registered at least $30 million in assets went from 85 to 100 in the last 12 months."

How to Market Luxury in a Downturn

July 2009

One of the best-known academic minds in marketing talks to BNET about the two types of luxury consumers, and how to hang onto them in a recession.

John Quelch was one of ten marketing experts profiled in the 2007 book, Conversations with Marketing Masters, authored by Laura Mazur and Louella Miles.