π India to pass China in affluent consumers by 2036
India is projected to surpass China in affluent consumers by the year 2036, according to a report by NielsenIQ and World Data Lab. The report forecasts India will have 10.8 crore affluent consumers, slightly edging out China's projected 10.3 crore. Currently, India is estimated to have 2.6 crore such consumers in 2026, with an expected addition of 8.2 crore over the next decade. This growth is attributed to India being classified as a "volume growth" market with a rising middle class. Companies will need to balance premium upgrades with affordable options to capture this spending power. π