Why the cautious Indian consumer is bad news for GDP8 min read 01 Sep 2022, 10:54 PM IST
Despite high GDP growth rates, aspirational Indian consumers are not willing to spend just yet. Is a turnaround near?
NEW DELHI' : There’s a seeming mismatch between India’s high GDP growth rates and persistently weak consumer sentiments. We have tried explaining this phenomenon in two articles in Mint before. In both, we have quoted the Nobel Prize winning behavioural economist Richard Thaler. It’s time again for a Thaler quote to explain the psychology of the average Indian consumer living in an average household.
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