The havoc caused by cybercrime, rupee export and illegal retailing is crippling our economy. And macro changes in consumer spending will create a new set of leaders:
🎯 *India’s ~₹1.45 lakh crore foreign travel spend in a year is larger than the entire building material industry* (plywood, tiles, pipes, and laminates). Most of this travel is leisure. People prefer Pattaya to Goa because local public transport doesn’t work in Goa.
🎯 The *₹2.87 lakh crore lost by retail traders in FY22-25 is more than half of consumer staple spend in a year or it could have bought ~35–36 crore washing machine*, nearly each household in India having one washing machine.
🎯 The *₹53,000 crore lost in digital frauds in 6 years is equivalent to India’s branded QSR industry*, money literally shifting from consumption to scams.
🎯 *Apple India added ₹1.2 lakh+ crore revenue in 5 years, almost equivalent to creating a two new HUL-sized business* almost from scratch.
🎯 *India’s live events industry (~₹100,000 crore) including the wedding industry is now comparable to the entire organized retail sector*, weekends are replacing wardrobes.
There are three distinct trends visible in India’s consumption basket
– *Indian wallet is shifting from cereals and pulses to data, OTT and mobile* big tech can collect tax more efficiently than the Indian govt can. If Google were a nation, it would be way more populous than India.
– *Income growth is deepening but not widening sufficiently* job losses will accelerate.
– *speculative loss, digital fraud and Ponzi schemes if plugged can boost economy more than the GST cut announced in Sept 24.*
Read the enclosed report for the changing face of Consumption in India
