India turning into magnet for foreign luxury brands

More than a dozen luxury consumer goods brands are entering the country ahead of the festive season, as they look to attract consumers in a market riding on the growing affluence of Indians with higher incomes, spurring greater discretionary spending even in small towns. The trend is being driven by increased exposure to global trends, younger people buying luxury products, and a post-pandemic boom, all of which are stoking interest from western luxury brands, executives said.