New Delhi, Nov. 7 -- Millennials are increasingly becoming an important cohort for companies in India. When it comes to spending on luxury products, and experiences, millenials in India are the fastest-growing user base for the local arm of New-York based credit card issuer American Express. Millennials account for 37% of the company's userbase in India and account for a third of all luxury spending done on the company's base of card users here, according to data shared by the company.

The global card issuer whose products and services are typically used by affluent consumers the world over mapped consumer spends on high-end experiences, travel, clothes, stay and jewellery. Between 2014-2018 luxury spending by millennials in India grew 2...