The August report revealed that consumption has increased across 3 out of 5 relevant sub-indices i.e. overall household products, essential products, health products and media consumption
Amid the economic development, about 56 per cent of Indians believe that India will be a developed economy in 25 years, as per Axis My India August Consumer Sentiment Index (CSI) survey.
The company said that CSI explored the citizen’s views across key facets of the growing Indian economy. From unravelling expectations from the government to improved life and livelihood, the findings also explored shifts in mindset with regard to social, environmental, and national issues.
The August report revealed that consumption has increased across 3 out of 5 relevant sub-indices i.e. overall household products, essential products, health products and media consumption.
However, sentiment related to mobility has reduced by 1 per cent from last month and sentiments related to discretionary products remain the same as last month.
The survey revealed that overall household spending has increased for 61 per cent of families which reflects a 2 per cent increase from the last month. The net score which was at +50 last month has increased by +2 to +52 this month.
This survey also highlighted that though 44 per cent of the respondents acknowledge improvement in living standards in the last few years, 34 per cent are still concerned about inflation. Overall, sentiments direct toward an optimistic future for India in the next 25 years.
Pradeep Gupta, Chairman and MD, Axis My India said, “While inflation and lack of employment opportunities continue to be of concern, a major chunk believe that their living standards have improved in the last few years and as we come close to the 75th year of independence, Indian citizens are certain that India will be able to fight against all odds and most likely become a developed nation when it touches 100 years."