New Delhi, Jan. 28 -- The global consumption pools are witnessing a significant shift from regions like North America and Western Europe to India and emerging Asia, according to a report by McKinsey Global Institute.

This transformation highlights the growing importance of these regions in the global economic landscape, driven by rising incomes, changing demographics, and evolving consumer preferences.

The report said, "Consumption pools are shifting from North America and Western Europe to emerging Asia and India.... Developing countries will provide a growing share of global labour supply and of consumption, making their productivity and prosperity vital for global growth."

According to the report, India and emerging Asia are poised ...