I see India’s rising GDP per capita as part of a possible opportunity in luxury retail, though I left open why China’s market for LVMH is so much larger: it may reflect income differences, or Indians shopping abroad. I suggested Reliance might be onto something by betting on luxury retail distribution in the coming decade; this was a tentative view, not a decision or forecast.
I described China’s market for LVMH as “10s of times bigger than India.”
I also saw domestic consumption as a possible sector to be in over the coming decade, pointing to lower corporate debt and a household savings rate trending down as possible reasons. I did not name businesses or provide supporting data; the consumption opportunity also raises questions about what kinds of Indian consumer businesses can scale, including those in restaurant business in india.
I found it strange that so few domestic consumption stories had reached “1000cr plus sales.”