New Delhi, March 21 -- India is set to become the consumption capital of the world, outpacing major economies says a report by Angel One, Iconic asset.

In India Consumption accounts for 56 per cent of the GDP and is the fastest-growing segment of its economy. The report says that driven by the fastest-growing consumer base in the world India's consumption is projected to double by 2034.

Household growth in India because of nuclear family trends is outpacing population growth and this is emerging as the key driver of rising consumption. will drive consumption. India is also set to lead in global workforce growth.

Additionally, the report projects that India's savings over the next 25 years will be 10 times of the total savings of the pa...