Add to that a new, younger rich class with growing spending power and the desire to indulge in the finer things of life. India is a market brimming with possibilities for the luxury sector, which is poised to play a key role in the country's ambition to present itself as a developed nation by 2047.
Global luxury brands and firms have turned their attention to India with greater interest. A number of Indian luxury brands have started stepping into international markets. Designers such as Rahul Mishra have been making news for dressing up celebrities such as Zendaya, Selena Gomez and Beyoncé, and business biggies like Mark Zuckerberg.
The luxury business, however, is complex. It requires deep and consistent relationship building. It takes time to establish a brand in this space. It needs support in the form of infrastructure and services. Is India keeping pace with its demands?
Denne historien er fra March 25, 2024-utgaven av Business Standard.
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Denne historien er fra March 25, 2024-utgaven av Business Standard.
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Indians prefer credit over debit card for high-value payments
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An Indian anthropologist ahead of her time
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Noel's appointment as Tata Trusts' chair signals continuity: Analysts
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