INSIGHT: income inflection point
India’s current average income is roughly comparable to that of 2005 China, 1990 Thailand, 1985 South Korea, or 1965 Japan. In each of those countries, this level of per capita GDP marked an inflection point for the consumer economy – kicking off a decade or more of accelerated growth in spending on everything from branded dairy products to air travel.
More to come on this topic in an upcoming dispatch.
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