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India’s consumer economy is expected to approach USD 1.9 trillion by 2030, driven by rapid adoption of artificial intelligence (AI), changing consumer preferences, and the rise of new commerce models, according to a joint report from Deloitte India-FICCI released on Tuesday.
Moreover, India ranks first among top-15 countries in AI adoption, as organisations increasingly deploy AI across consumer engagement, product innovation, and demand forecasting, said the report titled ‘Consumer Trends IGNITEing Growth and Governance’.
It highlighted that growth and governance are becoming increasingly interconnected, with digital trust, transparency and regulatory predictability emerging as critical enablers of long-term competitiveness.
According to the report, a new Indian consumer is emerging, shaped by digital adoption, AI-assisted product discovery and a growing preference for convenience, transparency and personalised experiences.
“India’s consumer economy is expected to approach USD 1.9 trillion by 2030, opening up substantial opportunities for businesses that can respond to rapidly evolving consumer expectations and changing market dynamics,” Deloitte India Partner and Consumer Industry Leader Anand Ramanathan said.
He noted that growth will increasingly depend on how effectively organisations deploy AI, build resilient operations, participate in connected commerce ecosystems and translate consumer insights into differentiated consumer experiences.
The report highlighted that supply chains, traditionally focused on efficiency, are being redesigned for resilience through investments in intelligent planning, predictive forecasting and diversified sourcing strategies.
It added that the rapid growth of quick commerce, omnichannel retail, and creator-led ecosystems is blurring traditional channel boundaries and reshaping the way consumers discover, evaluate and purchase products.
The report said 74 per cent of consumers review ingredient or nutritional information before making purchases, while 63 per cent choose products based on formulations and ingredients. More than half of consumers switch brands in search of better health and transparency credentials.
The report said India ranks first among top-15 countries in AI adoption, with companies increasingly deploying the technology across consumer engagement, product innovation, demand forecasting, and supply chain management.
