Indians gear up for spending spree

Himalayan News Service

Mumbai, June 26:

The rush of global retail brands into India is set to heat up with a survey predicting that the country’s vast middle class will spend more even as consumers elsewhere in the world remain cautious.

According to marketing consultancy firm AC Nielsen, Indian consumers will lead the world in terms of increased spending on equities, out-of-home entertainment, apparel and tourism in the next year. As a result of the positive outlook on employment, job prospects and personal finances, the Indian consumer feels this is a good time to buy products and services, said the half-yearly survey report.

The survey result showed 67 per cent of Indians feel next year would be a ‘good time to buy’. “For the coming 12 months period, Indians are more optimistic” said Sarang Panchal, executive director of AC Nielsen.