Key View: We forecast household spending in India to return to growth in 2021, after the Covid-19 pandemic led to a contraction in consumer spending in 2020. At Fitch Solutions we forecast household spending in the country to grow by a real rate of 6.6% y-o-y over 2021, an improvement from the -12.6% y-o-y contraction in 2020. While growth will return to positive in 2021, we do note the recovery will be slower than most countries, as a result of the significant contraction over 2020. Unemployment will remain heightened, while the effectiveness of government support measures is questionable. As such, most indicators will only return to pre-Covid-19 levels over H221 and 2022.
Table of Contents
- Key View
- Consumer Outlook
- SWOT
- Consumer & Retail SWOT
- Industry Forecast
- Consumer Spending
- Household Characteristics
- Consumer Demographics
- Market Overview
- Retail Trends
- Consumer & Retail Glossary
- Consumer & Retail Methodology