Now Reading: India to have 10.8 crore affluent consumers by 2036, to edge past China: Report
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India to have 10.8 crore affluent consumers by 2036, to edge past China: Report
India to have 10.8 crore affluent consumers by 2036, to edge past China: Report
India is projected to have 10.8 crore affluent consumers by 2036, marginally surpassing China's 10.3 crore, according to a NielsenIQ and World Data Lab report. The US is expected to lead globally…
India is projected to have 10.8 crore affluent consumers by 2036, marginally surpassing China's 10.3 crore, according to a NielsenIQ and World Data Lab report. The US is expected to lead globally with 23.1 crore affluent consumers. India's affluent base, defined as people spending more than $90 a day, is estimated at 2.6 crore in 2026, with an additional 8.2 crore projected over the next decade.
China is forecast to add 6.2 crore affluent consumers in the same period, making India the market with the largest projected increase, the report states. India also has an estimated 64.9 crore 'core consumers' in 2026, spending between $13 and $90 daily. Worldwide, the affluent population is expected to reach 102.5 crore by 2036, up 36.9 crore from 2026, with global affluent consumers projected to spend $35.9 trillion in 2026 versus $31.6 trillion by core consumers.
The report labels India a 'volume growth' market, citing its rising population and middle class, but notes its broader findings apply across emerging markets. It cautions that 2036 estimates are projections based on current data and assumptions, and actual outcomes may differ. Companies are advised to offer products that justify premium upgrades while keeping affordable options available.
Indian Opinion Analysis
Both reports are wire-style summaries of the same NIQ/WDL data, with no editorial slant. The Times of India emphasises India's projected 8.2-crore addition against China's 6.2 crore, the US lead at 23.1 crore, and the report's caution that projections are assumptions. The story is framed as a neutral business statistic with consumer-behaviour context. The measured takeaway: India will add more high-spending consumers than any other country over a decade, but the US base remains far larger, and the data defines affluence by daily spend, not income, so macro shifts matter more than any single number to a careful reader.
Coverage: 2 sources, 2 neutral
Sources (2): timesofindia.indiatimes.com (neutral report), timesofindia.indiatimes.com (2) (neutral report)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
