India records second highest global consumer confidence score: Report

India maintained its position as one of the most optimistic consumer markets globally in July 2025, registering the second-highest national index score among 30 countries, according to the latest LSEG-Ipsos Primary Consumer Sentiment Index (PCSI).

The country’s overall consumer sentiment index rose by 1.8 percentage points over the previous month, reaching a score of 60.9, second only to Indonesia, which leads with a score of 61.3. These are the only two nations to score above 60 in July’s global comparison.

India’s performance was underpinned by gains across all four sub-indices tracked by the PCSI. Economic expectations rose by 3.1 percentage points, while perceptions of current personal financial conditions increased by 1.9 percentage points. The investment climate index also improved by 3.1 percentage points. Employment confidence saw a modest rise of 0.4 percentage points compared to June.

According to Ipsos India, several domestic factors have likely contributed to the positive sentiment. These include a favourable start to the monsoon season in multiple regions, a reported decline in food inflation, recent tax relief measures aimed at boosting household savings, and a reduction in the central bank’s repo rate, expected to ease loan interest burdens. India’s continued domestic demand-driven economic growth has also been cited as a factor behind resilient consumer confidence.

Globally, nine other countries recorded a national index score above the 50-point threshold in July, including Sweden (56.2), Mexico (55.0), the Netherlands (53.8), the United States (53.8), Singapore (53.4), Malaysia (52.7), Great Britain (52.0), Poland (51.7), and Brazil (51.1).

Conversely, three countries registered scores below 40, Hungary (36.7), Japan (35.9), and Türkiye (34.3), indicating significantly weaker consumer sentiment in those markets.

Amit Adarkar, CEO, Ipsos India said, "July brings positive news for India, with a noticeable uplift in consumer sentiment across various fronts — the economy, investments, and personal finances. Even job sentiment has shown a slight improvement this month, building on last month’s gains. Several factors may have contributed to this growing optimism: a promising start to the monsoon season in many regions, a decline in food inflation, continued tax cuts by the Finance Minister boosting household savings, a cut in the repo rate lowering loan interest burdens, and the overall resilience of the Indian economy, which remains strongly driven by domestic consumption. Together, these elements are fostering a more upbeat consumer outlook,"