New Delhi, Nov. 25 -- Household consumption patterns in India are undergoing a marked change, with spending gradually shifting from basic necessities to asset-building purchases, according to a survey released by the Economic Advisory Council to the Prime Minister (EAC-PM).

Data from the 2011-12 and 2023-24 surveys indicates that families, including the bottom 40 percent, are increasingly spending more on Personal Goods and Home Appliances than on Clothing and Footwear.

The report notes that rising awareness, better financial access and improved market connectivity are driving this shift, contributing to productivity gains and higher living standards.

Motor vehicle ownership has emerged as the fastest-growing durable asset across the c...