India, March 22 -- A new report has revealed India is going to become the consumption capital of the world, media reports said.

The report published by Angel One, Iconic Asset says India will outpace other major economies in the world.

In India, consumption accounts for 56 per cent of the GDP and is the fastest-growing segment of its economy, ANI reported quoting the report.

The report said the household growth in India due to nuclear family trends is outpacing the population spike and this is emerging as the key driver of rising consumption.

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

"Consumption spend in U...