India is set to surpass the impressive mark of US$ 5.4 trillion in consumer spending by 2034, up from the current US$ 1.8 trillion, according to data from the World Data Lab analyzed by EBANX, a global technology company specializing in payment services for emerging markets. It represents a growth of 12% per year, three times higher than the projection for the United States, at 4%, and more than two times higher than the global average of 5%. This boost will place India as the third-largest market in the world in consumer spending, behind only the United States and China. Continue reading
Tag Archives: Economic history
How is BRICS (Brazil, Russia,India,China,South Africa) bloc doing so far?
June 4, 2024 /Economy/ — The BRICS bloc has been in the news recently due to a significant development: it doubled its membership in January 2024. Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates were all invited to join Atlantic Council. This expansion has the potential to reshape the bloc’s influence, but it also comes with challenges. Continue reading