Business · India Bureau
India shines as global growth engine amid strong consumption: Birla
The chairman of Aditya Birla Fashion and Retail Ltd has highlighted India's resilient domestic consumption and supportive policy environment as key drivers sustaining the country's economic momentum. The apparel retail sector alone is projected to expand significantly over the coming years.
LSN India ·
India continues to emerge as a bright spot in the global economic landscape, buoyed by robust consumer spending and government measures that foster business growth, according to Kumar Mangalam Birla, chairman of Aditya Birla Fashion and Retail Ltd (ABFRL).
Birla attributed the country's sustained expansion to a combination of factors, with domestic consumption patterns proving particularly resilient even as major economies worldwide face headwinds. He emphasized that supportive policy frameworks have created a conducive environment for businesses to invest and expand operations across sectors.
The apparel and fashion retail market in India is positioned for substantial growth, with projections indicating the sector could exceed ₹14 trillion by fiscal year 2030, reflecting growing consumer demand and rising disposable incomes across the country. This expansion underscores the broader strength of India's consumption story and retail landscape.
The outlook reflects broader confidence among business leaders in India's economic trajectory, as the country's demographic dividend and rising middle-class base continue to drive demand for goods and services across multiple segments.