Axis Mutual Fund expects the robust growth in the consumption across sectors to continue for the next 10 years amid growing aspiration in both rural and urban regions.

The growth in consumption sector will be driven by factors such as rising incomes, urbanisation and changing consumer preferences.

Wide range of industries such as consumer goods, retail, automobiles and services will be benefited aided by advancement in technology and e-commerce services.

Ashish Gupta, Chief Investment Officer, Axis AMC, said the evolving consumption patterns in India are a crucial aspect of India’s growth trajectory as population’s aspirations grow and spending power increases.

With a young and aspirational population, consumer spending in India is expected to grow significantly in the coming years, he added at the launch of thematic Axis Consumption Fund which will have provision to invest up to 20 per cent in global markets. The IPO will open for subscription on Friday.

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