New Delhi: India, at its current rate of growth, is likely to emerge as the world’s third-largest consumer market in 2026 and third-largest economy by 2028 — next only to the US and China, according to a UBS report.

“India’s household consumption nearly doubled in the past decade to $2.4 trillion in 2024, recording a 7.9 per cent CAGR, stronger than China, the US and Germany. Our estimates indicate India’s consumer market is on track to become the world’s third largest in 2026, well before its GDP does by 2028,” according to the UBS report.

India’s real GDP growth is likely to stabilise at 6.4 per cent year-on year in FY27 and 6.5 per cent in FY28, on supportive policy and strong domestic demand, making it the fastest growing economy in the Asia Pacific (APAC) region in 2027, followed b

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