India Inc has been experiencing a strong shift towards premiumisation, with high value and branded products growing at a faster pace than those in the unbranded and budget categories. This trend is especially prominent in sectors like automotive, hotels, FMCG, retail, alcoholic beverages, mobile phones and real estate, among others. With consumers’ rising aspirations and changing lifestyles, this is expected to drive India’s growth story.

• India’s rising per capital income, rapid urbanisation, improved access to premium global brands and more convenient financing options are all driving the premiumisation trend.
  
• Growing aspirations are leading consumers to choose products that offer superior experiences or elevate their status.
  

Source: Ministry of Statistics and Programme Implementation