India’s consumer tech sector stood at $100 billion in FY22, something that is expected to go up to $300 billion by 2027, growing at an annual growth rate (CAGR) of around 25%. This was revealed in a recent report released by Chiratae Ventures.
In its report titled ‘Cracking the code: Unveiling India’s consumer landscape’, in partnership with Google and 1Lattice, the firm has cast an eye at India’s consumption potential. Here are some key findings.
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Tier-II and tier-III cities are rapidly adopting digital technology and are aware of the various platforms and apps.
Wide usage of FinTech platforms, driven by payment apps, even in remote cities.
Growing willingness to pay for premium and personalised subscription models.
Online gaming growing with rising professional gamers.
Changing preference from offline to online across apparel, BPC and grocery shopping.
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