Mumbai30 minutes ago
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According to the latest report by Franklin Templeton, per capita income will double to ₹2.41 lakh annually between 2010-2024.
Per capita income, spending population and urbanization in the country are reaching a point where consumption increases rapidly. According to the latest report of multinational asset management company Franklin Templeton, by the end of this year the number of families earning ₹ 10 lakh annually in India will increase to 10 crore.
The report states that in 2013 it was ₹6 crore. These people will handle 40% of the total consumption. Due to this, sales of cars, houses, FMCG products will increase rapidly. Furthermore, per capita income is expected to double to ₹2.41 lakh annually between 2010-2024. By 2031 it will increase to ₹4.63 lakh. Due to this, people will spend more than their needs on premium goods, tourism and health.
The report suggests that India is now becoming an aspiration-driven economy. Due to this GDP increases rapidly. India’s nominal GDP growth is projected to grow at a CAGR of 11% between 2024 and 2030. By then the Indian economy will be worth ₹644 lakh crore.
The share of domestic consumption in this is 60%. With this, India can become the third largest consumer market next year. Private consumption is already more than Rs 185 lakh crore in 2024, which was Rs 88 lakh crore in 2013. It has grown faster than China, America and Germany.
3 major indicators of progress…
- Savings and Investments: In September 2025, people invested ₹29,361 crore of savings in SIP. At this time 5 years ago it was Rs 10,351 crore.
- Rapid urbanization: The urban population was 32% in 2013, now it is 40%. Per capita expenditure in rural areas increased to ₹3,774 from ₹1,429 in 2012.
- Expensive Shopping: The share of premium products in the FMCG market is expected to reach 30-35% by 2024. In 2020 it was 20%. By 2025 it will be a market worth ₹5 lakh crore.
………………… Also read this news related to income and property….
8.5 lakh with assets worth more than Rs 8 crore in the country: There will be more than 16.5 lakh by 2027, the rich earn the most from technology, startups and real estate.
The wealth of the rich in the country has been increasing rapidly for the last few years. According to a research by Anarock Group, the number of high-net-worth (HNI) people with investable assets of at least Rs 8 crore is currently more than 8.5 lakh. They are expected to double to 16.5 lakh by 2027. Interestingly, 20% of these millionaires are below 40 years of age. Read the full news…
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