consumption in India all through 2021 and pre-covid levels will be reached only by 2022, a report by The Boston Consulting Group (BCG) said.
BCG now expects its 2028 consumption estimate for India to be met only by 2030.Household consumption, which includes food and grocery, housing and household products, transport and communication, health, and education, will decline 10-12% in FY21, the report, ‘How India Spends, Shops and Saves in the New Reality’, said on Thursday.
Household consumption in India has grown 13% every year over the past decade.Also Read | Covid curve slumping across IndiaOverall consumption growth is also likely to get delayed by up to two years, the report said.