With a median age of 28, India possesses a significant demographic advantage that is expected to last for several more decades. It is the world’s largest provider of human resources, with the United Nations estimating that -21% of the incremental global workforce (or 96 million people over the next decade will come from India. The country also leads in science, technology, engineering and mathematics graduates, who are English speaking. Multinational corporations are increasingly establishing global capability centres in India to perform an array of strategic functions, including R&D, product engineering, Al and digital transformation. India currently hosts over 1,700 such centres, with revenues of US$ 65 billion. NASSCOM projects that by 2030 this will rise above 2,400 with combined revenue of US$ 110 billion. India really will be “an office to the world.”

India’s growth is consumption-driven, with private consumption constituting 64.8% of nominal GDP (December 2024). Although overall GDP per capita is low, India has a distinct income pyramid: the top tier matches global spending levels, while the bottom tier remains relatively poor. Tier-2 and Tier-3 cities are emerging as strong growth hubs, boosting demand for organised retail and branded products. Consumer spending is expected to grow by 46% to reach US$ 4.3 trillion by 2030, up from US$ 2.4 trillion in 2024, driven by rising incomes, rapid urbanisation, aspirational youth, credit availability and digitalisation. This burgeoning domestic market provides immense opportunities to local and global businesses.

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