India’s consumption revival gains traction with strong festive and rural demand

India’s consumption cycle is showing unmistakable signs of revival: rural incomes have risen after two good monsoons, tax cuts have given households more spending power and GST roll-outs have eased goods flows. Retailers and auto-bookings are showing upticks during the festive season, while discretionary spending on appliances and leisure is broadening. Analysts flag that while this up-cycle is still early, it is increasingly visible across company updates and sectoral indicators. This may mark a shift from investment-led growth to consumer-led expansion in FY26.