Partner at Exencial Research, Exencial Research

Viral Kishorchandra Shah

Partner at Exencial Research

Exencial Research

Thematic (Sector/Industry)

India Consumer discretionary / Thematic (Sector/Industry)

<ul>
<li>Record RBI dividend, tax relief, rate cuts, and GST rationalization are fueling a multi-channel stimulus with staggered transmission, aiming to revive post-pandemic household spending.</li>
<li>Rural recovery, festive-season GST cuts, and digital payments are accelerating volume growth, notably benefiting autos, FMCG, housing, and services, especially in Tier 2 markets.</li>
<li>Structural shift toward formalization, K-shaped demand, and premiumization is visible; scenario outcomes depend on food inflation, monsoons, and the pace of EMI and credit transmission.</li>
</ul>


Record RBI dividend, tax relief, rate cuts, and GST rationalization are fueling a multi-channel stimulus with staggered transmission, aiming to revive post-pandemic household spending.
Rural recovery, festive-season GST cuts, and digital payments are accelerating volume growth, notably benefiting autos, FMCG, housing, and services, especially in Tier 2 markets.
Structural shift toward formalization, K-shaped demand, and premiumization is visible; scenario outcomes depend on food inflation, monsoons, and the pace of EMI and credit transmission.


India's Rs 2.6+ Trillion Consumption Stimulus: Magnitude, Impact, and Cycle Nuances