ConsumerSignals: India Chapter

"India's consumption story this quarter is entering a phase of confident recalibration. Households are not stepping back from spending; they are becoming sharper about where that spending creates value, prioritising financial stability and payment discipline even as price anxiety builds — 81 percent of households remain confident in meeting their day-to-day payments. This is translating into a more selective spending pattern, where essentials, savings and travel continue to outperform, while discretionary retail categories such as clothing, electronics and household goods see a softer pace. Improved food frugality and a more deliberate approach to everyday purchases reinforce this shift towards efficiency over restraint. Travel remains the clearest expression of sustained confidence, with hotel intent as high as 74 percent, even as travellers turn more discerning about premium upgrades. This same confidence extends into big-ticket decisions, where steady appetite for vehicle ownership is now accompanied by a sharper pivot towards electric mobility — EV purchase intent has climbed to 64 percent — pointing to a growing consumer focus on future-ready choices. For businesses, the opportunity lies in demonstrating value with precision across each of these dimensions — those that do will be best placed to capture the next phase of consumption-led growth”

Anand Ramanathan, Partner and Consumer Industry Leader, Deloitte South Asia.