9 in 10 in India do not have enough to spend on non-essential items: Report

India may be home to 1.4 billion people, but around a billion of them do not have enough money to spend on discretionary goods or services, according to a new report released by venture capital firm Blume Ventures last month. Another 300 million fall under what the report describes as “the aspirant class”, who largely spend on small ticket purchases such as clothing. Only 140 million people - or 10 per cent of the population - make up “the consuming class” in India, with sufficient disposable income for discretionary spending. Rebecca Bundhun reports. Subscribe to our channel here: https://cna.asia/youtubesub Visit our website: https://cna.asia Download our app: https://cna.asia/app Get our editors' picks of stories via chat apps: Telegram: https://cna.asia/telegram WhatsApp: https://cna.asia/whatsapp Follow us on these platforms: https://www.facebook.com/channelnewsasia https://www.instagram.com/channelnewsasia https://www.tiktok.com/@channelnewsasia