In this edition:
  • Market overview: India market update
  • India’s consumption story: Macro scale, micro edge
  • From low base to high growth: Untapped categories in consumer market

India’s economy continues to showcase resilience, with GDP growth projected to remain steady for FY26. Meanwhile, inflation has eased to its lowest level in years, creating a stable foundation for sustained economic progress.

Emerging opportunities in sectors such as home appliances, consumer electronics, and organised retail are unlocking untapped potential for investment. India’s retail sector, in particular, is undergoing rapid transformation, with projections indicating it will reach USD 1.4 trillion by 2028, supported by digitisation and rising household spending.

At the same time, the specificities of India’s investment landscape highlight the importance of a bottom-up approach to stock picking. Differentiated demand trends across categories and regions are creating opportunities for investors to identify key growth pockets.

How are India’s evolving consumption trends shaping its economic growth, and what does this mean for long-term investors?

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Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 24 July 2025. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results. 

Date of first use: 24 July 2025
Doc ID: 4683642