From Travel Boom To Trading Losses: Decoding India's Changing Consumption Story

India's consumption story is undergoing a dramatic transformation. Household spending patterns are shifting rapidly, with travel expenditure surging by around 450% over the past eight years, while spending priorities continue to evolve across income groups. At the same time, concerns remain over the growing losses incurred by retail traders in the futures and options segment, estimated at ₹2.87 lakh crore, raising important questions about financial behaviour and wealth creation. Adding another dimension is the changing relationship between the number of income tax filers and actual taxpayers over the last decade, offering valuable insights into formalisation, income growth and the broader economy. In this edition of Business Today, Shibani Kurian, Senior Fund Manager and Head of Equity Research at Kotak Mahindra AMC, analyses the great consumption shift, the sectors and businesses likely to benefit, and what these trends reveal about the future direction of India's economy and markets.