The Changing Face of Indian Consumers.
India’s consumer and retail landscape has never been as changing as it is today. Rising incomes, the middle class, digital adoption, and shifting lifestyles rewrite how consumers shop, spend, and connect with brands. From fashion and lifestyle to FMCG and luxury goods, growth here is driven by both aspiration and access.
For global and domestic brands, this momentum also brings complexity, from multi-layered regulations and tax structures to supply chain fragmentation and sustainability expectations.
At HLS Global, we help retail businesses navigate this transformation with a multidisciplinary team that supports retailers in structuring operations, managing compliance, and building scalable, transparent, and resilient retail systems across India’s diverse markets.
India is the world’s second-largest telecom market, with approximately 1.21 billion subscribers and a tele-density of 86.09% as of June 2025. Wireless services dominate the sector, accounting for over 96% of total subscriptions, reflecting strong mobile and data adoption nationwide. Industry revenues increased from USD 39.22 billion in FY24 to USD 43.42 billion in FY25, driven by tariff rationalisation, data consumption growth, and expanding 5G services. Cumulative FDI inflows into the telecom sector reached approximately USD 40 billion between 2000 and March 2025, highlighting sustained global investor confidence and long-term infrastructure development.
India is the world’s second-largest telecom market, with approximately 1.21 billion subscribers and a tele-density of 86.09% as of June 2025. Wireless services dominate the sector, accounting for over 96% of total subscriptions, reflecting strong mobile and data adoption nationwide. Industry revenues increased from USD 39.22 billion in FY24 to USD 43.42 billion in FY25, driven by tariff rationalisation, data consumption growth, and expanding 5G services. Cumulative FDI inflows into the telecom sector reached approximately USD 40 billion between 2000 and March 2025, highlighting sustained global investor confidence and long-term infrastructure development.
India’s Media and Entertainment (M&E) sector was valued at approximately USD 30 billion in FY24 and is projected to grow at around 7% CAGR through 2027. Digital media has emerged as the largest revenue contributor, generating approximately USD 9.4 billion in 2024, driven by OTT platforms, social media consumption, and digital advertising. Advertising revenues are expected to grow at a 9.4% CAGR to reach USD 19.2 billion by FY28, supported by rising brand spends and digital-first strategies. Online gaming revenues are also projected to reach approximately USD 4.8 billion by FY28, reflecting rapid user growth and monetisation trends.
India’s Media and Entertainment (M&E) sector was valued at approximately USD 30 billion in FY24 and is projected to grow at around 7% CAGR through 2027. Digital media has emerged as the largest revenue contributor, generating approximately USD 9.4 billion in 2024, driven by OTT platforms, social media consumption, and digital advertising. Advertising revenues are expected to grow at a 9.4% CAGR to reach USD 19.2 billion by FY28, supported by rising brand spends and digital-first strategies. Online gaming revenues are also projected to reach approximately USD 4.8 billion by FY28, reflecting rapid user growth and monetisation trends.
India’s SaaS market is expected to grow significantly from about USD 20 billion to nearly USD 50 billion by 2030 and further to approximately USD 100 billion by 2035. Since 2014, India has produced more than 21 SaaS unicorns, underlining the country’s strength in global software innovation and enterprise solutions. SaaS adoption continues to expand rapidly across sectors such as finance, healthcare, logistics, education, and e-commerce. Growth is aligned with national digital governance initiatives, cloud-first strategies, and increasing demand for scalable, subscription-based enterprise technologies worldwide.
India’s SaaS market is expected to grow significantly from about USD 20 billion to nearly USD 50 billion by 2030 and further to approximately USD 100 billion by 2035. Since 2014, India has produced more than 21 SaaS unicorns, underlining the country’s strength in global software innovation and enterprise solutions. SaaS adoption continues to expand rapidly across sectors such as finance, healthcare, logistics, education, and e-commerce. Growth is aligned with national digital governance initiatives, cloud-first strategies, and increasing demand for scalable, subscription-based enterprise technologies worldwide.
India hosts one of the world’s largest printing ecosystems, with the publishing market growing from approximately USD 5.8 billion in 2019 to around USD 9.3 billion in 2024. The print book segment alone reached an estimated USD 11.6 billion in 2024, reflecting continued demand for educational, academic, and regional-language content. The broader ecosystem includes nearly 9,000 publishers and over 21,000 retailers, supported by rising book exports and government-backed initiatives promoting Indian languages, translation programs, and knowledge dissemination across domestic and international markets.
India hosts one of the world’s largest printing ecosystems, with the publishing market growing from approximately USD 5.8 billion in 2019 to around USD 9.3 billion in 2024. The print book segment alone reached an estimated USD 11.6 billion in 2024, reflecting continued demand for educational, academic, and regional-language content. The broader ecosystem includes nearly 9,000 publishers and over 21,000 retailers, supported by rising book exports and government-backed initiatives promoting Indian languages, translation programs, and knowledge dissemination across domestic and international markets.
