SBI Research says Indian households are spending more on services
In short
An SBI Research report says Indian households are likely to spend more on non-food products and services over time. The summary says changing diets and household structures are pushing this shift.
This matters because it points to changing consumer demand in India. The available reporting does not say how fast the change will happen or which products will benefit most.
What the reporting says
Indian household consumption is expected to become more diversified, with spending moving beyond food essentials toward non-food products and services, according to an SBI Research report cited in a publisher summary. The report links the shift to changing dietary preferences and household structures. The immediate consequence is a changing consumption mix in India, but the reporting does not state a time frame, survey data or policy response.
Why it matters
SBI Research is reported to have said Indian household spending will gradually move away from food essentials and toward non-food goods and services. The cited reasons are changing dietary preferences and household structures. That could affect consumer companies, retailers and service providers in India, but the available reporting does not give numbers, a forecast horizon or details of the research sample.