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56% citizens feel India will be developed economy in 25 years, study shows

As we celebrate India’s 75th year of Independence, nearly 56 per cent of Indians believe that India will be a developed economy when it touches 100 years, reveals the latest findings of the Axis My India’s India Consumer Sentiment Index (CSI).

The survey also reveals that 34 per cent citizens want the government to combat inflation, while 28 per cent seek improvement in employment opportunities. Moreover, a majority of 44 per cent believe that their living standard has improved in the last few years while 40 per cent attribute the same improvement to the last 8 years.

Pradeep Gupta, Chairman and MD, Axis My India, commenting on the CSI report, said, “A sense of resilience, a belief in home-grown brands and an optimistic outlook towards the future is noteworthy. While inflation and lack of employment opportunities continues to be of concern, a major chunk believe that their living standards have improved in the last few years and as we come close to the 75th year of independence, Indian citizens are certain that India will be able to fight against all odds and most likely become a developed nation when it touches 100 years.”

The survey, which was carried out with a sample size of 10,205 people across 34 states and UTs, through Computer-Aided Telephonic interviews, received responses from 71 per cent of rural citizens and 29 per cent from urban counterparts. Moreover, 64 per cent of the respondents were male, while 36 per cent were female. In terms of the two majority sample groups, 35 per cent reflect sentiments of 36 to 50-year-olds, while 29 per cent reflect 26 to 35-year-olds.

The survey further revealed that 92 per cent of citizens claim that they would prefer domestic brands, while 6 per cent say they would buy Indian as well as imported brands. Around 63 per cent claim that they are prepared to pay more for environmentally friendly or natural products.

The report found that only 39 per cent of Indians have processed digital/online payments, while 61 per cent have still not ventured into the digital medium for payments. It also revealed that advertisement influences 38 per cent of citizens’ purchase decisions.

The survey also discovered that 73 per cent Indians are more health conscious and are eating more healthy food post the Covid-19 pandemic and 44 per cent agree that their kid’s education and learning were severely impacted by the online mode of education. Only 25 per cent believe that it had no impact.


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