India's consumer market projected to outgrow Germany, Japan by 2026
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India is projected to become the world's third-largest consumer market by 2026, surpassing both Germany and Japan, according to a report by UBS. Over the past decade, India's consumption has nearly doubled from $1.2 trillion in 2013 to an estimated $2.1 trillion in 2023. The country has achieved an impressive average compound growth rate of 7.2% during this period, outperforming China, the US, and Germany.