India was the world’s sixth largest economy in 2020, with gross domestic product (GDP) of over USD 2.6 trillion (AUD 3.7 trillion).

On the alternative measure of purchasing power parity, India is predicted to replace the United States as the world’s second-largest economy by 2050.

Household incomes in India are steadily increasing, creating a burgeoning population of middle-class consumers that will reach 580 million in 2025.

By 2030, India will add approximately 140 million middle-income and almost 30 million high-income households.