Press Release29 Apr 2024, 05:37 pm
CMS Info Systems Reveals India's Consumption Boom: 16.76% annual growth in FMCG, 3.74% in Consumer Durables
AI Summary
CMS Info Systems has released its annual consumption report, 'Unfolding India's Consumption Story.' The report showcases a consumption boom in India, with significant growth in sectors like FMCG, Consumer Durables, Media & Entertainment, Aviation, and Railways. The report is based on CMS Cash IndexTM and highlights an increase in spending in metros and non-metros, with the highest growth in Delhi, Tamil Nadu, Uttar Pradesh, West Bengal, and Karnataka.
Key Highlights
- 16.76% annual growth in FMCG sector, 3.74% in Consumer Durables
- 29.30% increase in spending on Media & Entertainment sector
- 6.36% annual growth in Aviation sector spending, 8.16% in Railways
- Slowing pace of decline in E-commerce and Education sectors' spending
- Highest growth in ATM withdrawals in Delhi, Tamil Nadu, Uttar Pradesh, West Bengal, and Karnataka