Fund Radar: Consumption funds: Your ticket to India's growth?

India's GDP per capita has grown five-fold this millennium, from a modest $442 in 2000 to $2,484 in 2023. The 'Affluent India', a term coined by Goldman Sachs for people earning above $10,000 (Rs 8.5 lakh) per year, is also projected to grow from 60 million to 100 million by 2027. And given India's mammoth 1.4 billion population, you would like to think that domestic demand has been and will remain a long-term theme. In fact, a study by UBS Securities has shown that India is poised to become the third-largest consumer market by 2026. So, how can investors ride the consumption wave? One way is through consumption funds. These funds invest in the consumption theme, c