Chandigarh Tops Household Spending, Mumbai-Delhi Trail As Smaller Cities Spend More
Mumbai: Mumbai and Delhi are usually seen as India’s biggest spending hubs, but a new report shows a different picture when consumption is measured on a per-household basis. Smaller and mid-sized cities are outpacing several major metros in average household spending. According to ‘The Many Urban Indias’ report, Chandigarh ranks first in the country in average household consumption, followed by…
When it comes to household spending, India's smaller and mid-sized cities are surpassing the long-held perception that Mumbai and Delhi are the country's biggest spending hubs. A new report titled "The Many Urban Indias" reveals that cities like Chandigarh and Thiruvananthapuram are leading the pack in terms of average household consumption.
In Chandigarh, for example, households earn around ₹28.3 lakh annually and spend a significant amount more than the average household in most other Indian cities. Despite Mumbai and Delhi falling behind in average household spending, they still maintain their status as major consumer markets due to their vast number of households.
The report highlights that the top 100 cities in India account for an annual consumer market worth around USD 844 billion, which represents only 19% of the country's total population. This data underscores a broader trend in India's urban economy, where consumption growth is increasingly driven by smaller and rapidly developing cities.
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