According to the study, the high internet penetration across tier – ll and tier – lll cities along with high disposable income shall lead to approx 100 million transactions on the internet by 2020. As a results, the luxury consumption is going to increase manifold in the country.

The size of the High Income group ( HIG ) conumers continues to grow and they spend over 40% of their monthly income on some of the world’s largest luxury brands whereas the middle income group ( MIG ) consumer spending is on the rise, expected to reach $ 40 trillion by 2020 with an unprecedented growth of $ 12 trillion in a decade, added the report.

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