India Emerging as Most Optimistic Consumer Market for 2026: Report
The report highlighted that around 60 per cent of Indian consumers expect to increase their household spending over the next six months
New Delhi: India is emerging as the most optimistic consumer market heading into 2026, with a sharp rise in household spending intent and confidence levels significantly higher than those of global peers, according to a report by Nuvama.
The report highlighted that around 60 per cent of Indian consumers expect to increase their household spending over the next six months. This growing willingness to spend reflects improving consumer confidence and expectations of better economic conditions.
“India emerges as the most optimistic consumer market for 2026. Approximately 60 per cent of Indian consumers expect to increase household spending over the next six months,” the report stated.
Automobiles are leading the spending intent, with nearly 70 per cent of consumers planning higher expenditure in this category. This is followed by mobile devices and mobile plans, with 63 per cent of consumers indicating increased spending in each of these segments.
The report noted that almost one-third of Indian consumers are planning higher overall spending, with discretionary purchases emerging as the primary driver. This level of discretionary spending intent is the highest across all markets surveyed.
Spending intent remains stronger for long-cycle and essential categories such as automobiles, mobile phones and housing rentals. In contrast, intent is relatively lower for frequent consumption categories like packaged snacks and soft beverages, suggesting a more selective and value-driven approach to everyday spending.
On the broader outlook, the report said Indian consumers are significantly more optimistic than their global counterparts. India recorded a net optimism of 27 per cent, compared to a global average of minus 12 per cent, placing it second only to China.
About 61 per cent of Indian consumers expect continued good times ahead, while 34 per cent anticipate widespread unemployment or economic slowdown.
The report further highlighted that only a net 17 per cent of Indian consumers expect recent global conflicts or political events to slow India’s growth—the second lowest level after China. In contrast, this figure exceeds 60 per cent in countries such as the UK, France and Germany.
Additionally, 69 per cent of Indian consumers expect to spend more due to rising prices of essential and non-essential goods, indicating that inflationary pressures are also influencing spending behaviour.
Overall, the report underscored India’s position as the most optimistic consumer market entering 2026, supported by strong household spending intent, resilience to global uncertainties, and sustained confidence in the country’s economic prospects.
