Indian Household Spending Shifts to Asset Building

A recent report shows that Indian households are spending more on things like cars, refrigerators, and mobile phones instead of just basic needs like clothes.

This change is happening even among the poorer households.

The report says that people are buying more durable goods, especially in cities.

Cars are the fastest-growing asset, while TV ownership is growing slower.

Mobile phones are almost everywhere, and fewer households are without any durable assets.

This shift is good for the economy and living standards.